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13/05/2009
Former FF Councillor Losses €4.6million Judgment
Former Fianna Fail Councillor Gerard Killally and a former Offaly football manager Richard Connor have lost out in a High Court judgment, leaving them with a bill for €4.6million
The judgment was made after National Irish Bank, who claimed the two men owed the amount to them, took an action. Neither man was in attendance at the court during the announcement, but the court was informed they would not be defending the action.
Mr Connor has already admitted making secret profits from land deals in Offaly.
His co-accused, Mr Killaly, claimed he did not disclose the profits to his partners because he was legally advised there was no obligation to do so.
Earlier in the hearing Mr Justice Peter Kelly remarked the former Offaly GAA football manager should have stuck to his job as national school teacher.
The hearing revealed that Mr Connor's involvement in property transactions, including two deals where he has admitted making secret profits hidden from other partners, had left him with liabilities of more than €3 million.
(DW/BMcc)
The judgment was made after National Irish Bank, who claimed the two men owed the amount to them, took an action. Neither man was in attendance at the court during the announcement, but the court was informed they would not be defending the action.
Mr Connor has already admitted making secret profits from land deals in Offaly.
His co-accused, Mr Killaly, claimed he did not disclose the profits to his partners because he was legally advised there was no obligation to do so.
Earlier in the hearing Mr Justice Peter Kelly remarked the former Offaly GAA football manager should have stuck to his job as national school teacher.
The hearing revealed that Mr Connor's involvement in property transactions, including two deals where he has admitted making secret profits hidden from other partners, had left him with liabilities of more than €3 million.
(DW/BMcc)
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