Investor once worth €20m ‘can’t pay cent to ex-partner’

An INVESTOR who saw his empire dive by €36 million in the property collapse told a judge yesterday he was unable to pay a cent to a former partner to whom he owed €1.2m.

Investor once worth €20m ‘can’t pay cent to ex-partner’

Philip Mahon agreed that he was still collecting thousands of euro every month in rents but said it was all destined for banks who had loaned him millions.

He agreed with barrister Angus Buttanshaw that he owed former pub sharing partner Dan Ryan €2m but said he was unable to redirect money from rent collections to Ryan — even to save himself from going to jail.

Already a subscriber? Sign in

You have reached your article limit.

Unlimited access. Half the price.

Annual €130 €65

Best value

Monthly €12€6 / month

More in this section

Lunchtime News

Newsletter

Keep up with stories of the day with our lunchtime news wrap and important breaking news alerts.

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited