Killally’s finances have landed him in hot water

He may have come to public prominence when he stood for election with Brian Cowen in 2002, but since then Ger Killally’s name has frequently hit the headlines for judgments made against him over various financial dealings.

The 42-year-old, who was attacked while driving with his father and young children in Offaly yesterday, has been the subject of numerous court orders, mainly over monies owed to various financial institutions.

During bankruptcy proceedings in 2010, Mr Killally was estimated to have debts of over €73m. Large sums of that were amassed through property deals linked to his auctioneering business.

In 2008, he and his wife were ordered by the High Court to repay commercial loans totalling €2.6m to Bank of Ireland.

In Feb 2009 he and former Offaly GAA football manager Richard Connor admitted in the High Court to making €3.5m in secret profits from land deals in Offaly. In court, the judge said their behaviour was “unconscionable and dishonest”. Both men had admitted to “dishonesty” on “a substantial scale”.

In May of the same year, the pair had judgment of €4.6m entered against them at the Commercial Court over default of repayment on development loans, this time on the application of National Irish Bank.

Two months later and it was AIB’s turn to take action. It secured €15.5m in judgment orders against the two men, over unpaid loans relating to land deals in Co Offaly, including deals where the pair admitted making secret profits.

In Jul 2012, Mr Killally, a former councillor, came close to jail time after he admitted taking €18,000 worth of shop equipment from a premises he used to own at Rochfortbridge, Co Westmeath, between Oct 2010 and Feb 2011. The offences happened after he was declared bankrupt and the shop and its contents were under the control of the court’s official assignee.

Mr Killally sold the items online for less than €2,000, claiming he had been under pressure from someone to whom he owed money. He was given a three-year suspended sentence.

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