Bar owner denies ‘extraordinary’ transactions with wife to dodge loans

David Cullen, owner of the Turk’s Head Bar and Paramount Hotel in Dublin’s Temple Bar, has denied he engaged in “extraordinary” transactions with his wife Mary to avoid repaying €29m loans taken over by Nama.

There was “nothing sinister” in his entering into contracts between Sept 18 and 24, 2009, to transfer 40 properties to his wife when he was disputing Bank of Ireland’s claim he was in default on loans and those contracts, he said.

The contracts were discussed from Dec 2008 when his wife demanded he pay what he owed her, he insisted before the Commercial Court.