Developer ordered to pay €1.5m damages

A Cork developer has been ordered to pay €1.57m damages over fraudulent misrepresentation, deceit and misappropriating large sums out of $50m (€37.7m) paid to his companies for a luxury hotel and resort in the Caribbean which was left unfinished.

Padraig (Paudie) O’Halloran, aged 42, of Shippool, Innishannon, Co Cork, diverted $1.48m paid to two companies in his Ice Group for the Buccament Bay resort to his personal bank accounts in Ireland, while further payments of about €150,000 were made from his companies to Weddings by Franc for his wedding in Adare Manor, Limerick, which ultimately did not take place, Mr Justice Brian McGovern found.

Further payments totalling $258,000 were also made from Mr O’Halloran’s companies to the Irish bank accounts of his father, Donal O’Halloran, ostensibly to repay loans which he claimed were made to him by his father some years earlier, the judge said.