Mr Charles Haughey had substantial bad debt balances on his accounts with Guinness & Mahon between 1979 and 1987, the Moriarty tribunal was told.
The bank's financial director, Ms Sandra Kells, confirmed that there were no records of a credit facility letter being sent to the former Taoiseach, for his accounts. There was a copy of a minute of the bank's credit committee's decision to offer a facility of £200,000. She said it was unsecured and for personal purposes.
Ms Kells said the late Mr Des Traynor, de facto chief executive of Guinness & Mahon, must have told the credit committee what the facility was required for. Mr Traynor was also Mr Haughey's personal financial adviser. The facility was approved by Mr Michael Pender, then a director of the bank, on April 3rd, 1985.
Details were also given of Mr Haughey's four G&M accounts, including two current accounts into which £1,456,875.41 was lodged between 1979 and 1987. A loan account had £229,756.82 credited to it between 1981 and 1984, while £74,996.83 was credited to a second Haughey loan account in 1981.
In some cases money was transferred from one account to another, or came from bank loans but in others the source of the funding could not be traced.
Ms Kells said the bank was unable to locate statements relating to the Amiens accounts operated by Mr Traynor, which should have been available from microfiche records.
In Mr Haughey's principal resident account, 26 lodgements were made between February 1979 and May 1987 when the account closed at £1,245,530.91. The lodgments varied between £326.23 and the £285,000 Tripleplan cheque from Dunnes Stores. The source of funds from a number of the lodgements could not be traced. Others included the proceeds of loans from banks while cheques were transferred from accounts in the names of Amiens Securities Ltd.
The second resident current account opened in May 1983 and closed the following January with a total lodged of £211,344.50.
Ms Kells agreed with Mr John Coughlan, SC, for the tribunal that the third account, a resident loan account, was in the joint names of Mr Harry Boland and Mr Haughey. It was opened in November 1981 and closed in September 1984, with total lodgements of £229,756.82. The fourth account opened in September 1981 and closed in October with a total sum of £74,996.83 debited and credited to the account.
