Convicted drug dealer John Gilligan has claimed the Criminal Assets Bureau (CAB) is having the Jessbrook Equestrian Centre in Co Meath undervalued at €5m for insurance purposes so it could be sold off cheaply “to one of their mates.”
His claim came during an application to the High Court to approve arrangments by CAB for insuring and renting out a number of properties found by the court to have been acquired from the proceeds of crime.
Gilligan was in court today with his ex-wife Geraldine and son Darren and is appealing that finding to the Supreme Court.
Earlier this year, the court appointed CAB legal officer Frank Cassidy as receiver to the properties to ensure they are maintained and income generating pending further legal proceedings relating to their future.
The arrangements put in place since then include the insuring and renting out the equestrian centre and surrounding lands and the drawing up of a caretaker agreement for Jessbrook House, where Geraldine Gilligan lives.
They also involved a similar caretaker agreement for the former family home at Corduff Avenue, Blanchardstown, where Darren lives, and the insuring and renting out of two houses in Lucan owed by Mr Gilligan, Darren, and daughter Tracey.
Today, Mr Justice Kevin Feeney ordered that the insurance policy for the equestrian centre be put in place for a reinstatement sum of €5 million.
Gilligan, representing himself, objected, saying that did not reflect the true value of the property which he should know as "I built it".
CAB was trying to make out it was agricultural land when it was commercial because there was a 3,500 seater arena in it, he said. "They're keeping the value down for when they can sell it to one of their mates."
He agreed with Mr Justice Feeney it was important the property be insured at this stage at even the €5 million valuation and that any issue issue in relation to a higher valuation could be raised later.
The court also approved a rent and repair lease for the centre with the Office of Public Works (OPW). The OPW is to use the centre to store exam desks. It will pay €65,000 in rent to CAB and will spend €130,000 in repairs of the premises, to be deducted from the rental monies.
In relation to the caretaker agreement for Jessbrook House, Mrs Gilligan's lawyer asked for more time to address a requirement of the insurance policy, put in place by CAB, that if the property is unoccupied for more than 24 hours, the water must be turned off or the house heated. Mr Justice Feeney adjourned this issue for three weeks.
The judge approved a separate caretaker agreement for the Corduff Avenue house with the requirement that Darren, who lives there, sign it within 28 days or CAB will be entitled to make a new application to court.
When told Darren was concerned the insurance policy for that house did not include public liability insurance, the judge said it was for Darren to control who he invited into the house.
Mr Justice Feeney also approved insurance and letting agreements for two other Gilligan properties in Lucan, which are being rented for €1,300 per month.