Gerry Hutch yesterday lost his Supreme Court application for a stay on a High Court order to prevent the Criminal Assets Bureau executing a judgment against him for £2 million.
Mr Hutch had sought the stay to apply until the Supreme Court issues its decision on his appeal against the High Court order.
The Criminal Assets Bureau (CAB) has said it suspects Mr Hutch of carrying out robberies and it alleged that over the years he has sought to hide and disguise monies and properties in his control, including placing properties in the names of members of his family.
The President of the High Court, Mr Justice Morris, last month entered judgment in favour of the CAB for £2,031,551 against Mr Hutch.
The figure included an assessment of £782,080 for income tax for nine years, and the balance represents interest at a rate of 2 per cent per month.
Mr Justice Murphy, one of the three judges sitting in the Supreme Court, yesterday asked whether, if £2 million were taken from Mr Hutch, the State was not a "good mark" in the event that the Supreme Court held against the CAB in the appeal hearing?
Mr Justice Keane, giving the Supreme Court decision, said that a stay was usually granted in cases only where there was a doubt that the opposing side might not be "a mark" in the event of losing. He refused the stay.
