Flynn quits property company

EMBATTLED industrial relations troubleshooter, Phil Flynn agreed to step down as a non-executive director of an overseas property company yesterday.

Mr Flynn already resigned his positions as chairman of Bank of Scotland (Ireland) and head of the Government decentralisation committee and as a director of VHI after it emerged he was questioned by the Criminal Assets Bureau (CAB) about his non-executive directorship of a company at the centre of money laundering allegations.

The chairman of Harcourt Developments, Pat Doherty, thanked Mr Flynn for serving as a non executive director and said he respected Mr Flynn’s decision to retire from the company.

“Harcourt Developments is a highly respected player in the property sector and has many prestigious developments in Britain, Ireland and overseas. Phil has taken a course of action which reflects his esteem and consideration for Harcourt and his fellow directors and we thank him for his contribution,” Mr Doherty said.

Last Thursday, it emerged that Mr Flynn is a non-executive director with Chesterton Finance Ltd which is at the centre of garda investigations.

The following day, Mr Flynn indicated that he was reviewing his public and private commitments.

Mr Flynn is a former vice-president of the Irish Congress of Trade Unions (ICTU) and former vice president of Sinn Féin. He has described himself as an “unrepentant republican” but denied any involvement in money laundering.