Mahon Tribunal: A solicitor seriously misled the land agent Mr Sam Stanley on the sale of the lands at Carrickmines in south Co Dublin, the planning tribunal has been told.
Mr Gerry Charlton, a solicitor who represented Mr Stanley, said the solicitor Mr John Caldwell and businessman Mr Jim Kennedy had "worked in concert and to the detriment" of Mr Stanley.
In doing so they had "confiscated" from Mr Stanley a substantial sum of money he stood to make from the Carrickmines transaction.
Mr Charlton was giving evidence for the third day. He said Mr Stanley was to be paid £1 million for his efforts on behalf of Mr Kennedy and his firm, Paisley Park Ltd, in securing the 108 acres at Carrickmines from its owner, Mr Bob Tracey. Later, Mr Stanley agreed to take a 20 per cent stake in Paisley Park instead of the £1 million fee.
However, it was never disclosed to him that Mr Caldwell held 50 per cent of Paisley Park, Mr Charlton said. If he, Mr Charlton, had known the full facts he would have advised Mr Stanley not to take the stake in the firm instead of the £1 million fee.
He would also have advised Mr Stanley differently when the agreement with Mr Kennedy ran into difficulties.
Mr Caldwell's failure to disclose his holding in Paisley Park in a shareholders' agreement drawn up in 1989 meant the basis of the company's subsequent dealings with Mr Stanley was a "basis of sand" and "fundamentally incorrect", Mr Charlton said.
