New details have emerged about a £248,624 sterling payment made by Independent TD Michael Lowry to a Co Tyrone land agent in 2002.
The payment, which was not disclosed to the Moriarty tribunal, was made by Finnish refrigeration company Norpe OY to an Isle of Man trust called the Glebe Trust.
The trust was involved in a £4.3 million property deal in Doncaster in 1998 that the tribunal decided at one stage involved an attempt by the businessman Denis O’Brien to confer a payment or financial benefit on Mr Lowry. Last week the Sunday Independent published transcripts of a conversation between Mr Lowry and land agent Kevin Phelan in which they discussed the hitherto unknown payment.
Contacted yesterday, Mr Lowry confirmed that the August 2002 payment had been made from Norpe. He said his refrigeration company, Garuda Ltd, trading as Streamline Enterprises, acted as an agent in Ireland and Northern Ireland for Norpe, a manufacturer of refrigeration products.
“Garuda was contractually entitled to commission payments from Norpe Ltd,” he said in a short statement to The Irish Times. “Garuda directed that a commission payment of £248,000 due to it be made to Charterhouse Trust.” Charterhouse is a major financial services business that administers Mr Phelan’s Glebe Trust.
‘Tax compliant’
“I have consulted with my accountants and tax advisers and they have confirmed to me that the commission income was recorded in the accounts of Garuda Ltd and treated as a payment to me which is fully tax compliant.”
Mr Lowry would not comment further.
The tribunal was told about a £65,000 payment by Mr Lowry to Mr Phelan, and a further £155,000 payment by Mr O’Brien to the land agent. Both payments were made in 2002. While the tribunal was told the payments were for fees due to Mr Phelan for his work in land deals investigated by the tribunal, the tribunal concluded they were aimed at dissuading Mr Phelan from undermining false evidence that was being given to the tribunal.
