A public sitting of the protracted arbitration process has been scheduled for October 2, when the arbitrator and Dun Laoghaire Rathdown County Council will attempt to get the company to end the mystery, which is also causing headaches for the Mahon Tribunal.
The sitting, which will have a major bearing on whether and where any compensation is paid, could force the attendance of the self-proclaimed sole director of the company, Birmingham estate agent, Alan Holland, who was criticised by the Mahon Tribunal recently for failing to co-operate with its investigations.
It may also shed light on the involvement, if any, of businessman, Jim Kennedy; solicitor, John Caldwell, and former TD Liam Lawlor, all of whom have been linked to the firm but have given conflicting evidence to the Mahon Tribunal on the matter.
Jackson Way is demanding the €47 million for loss of land and development potential after 22 acres it owned were compulsorily purchased by Dun Laoghaire Rathdown County Council for the building of the last section of the M50 motorway at Carrickmines in south county Dublin.
Dun Laoghaire Rathdown council valued the losses at just €7.6 million and, after an aborted High Court challenge, the issue went to arbitration in a hearing which took place over several weeks last October.
Arbitrator, John Shackleton, was due to announce his binding decision on the level of compensation to be awarded within a few months, but was delayed after Jackson Way were struck off the companies register in January for failing to file annual returns.
The company successfully applied to the Birmingham High Court to be restored to the register in July, paving the way for it to receive any compensation payment due, but questions remain over who has legitimate claim to the money.
In its compensation claim, the company swore it intended to use the money to reinvest in Ireland.
The situation is further complicated by the company’s entanglements with the Mahon Tribunal, which is investigating claims of bribes to politicians for rezoning favours on the Carrickmines lands.
The Criminal Assets Bureau is also investigating the company and is expected to seek a court order to freeze any monies released to it if the compensation payment is finalised.