Moriarty: Bank official unaware loan was for Lowry

The Moriarty Tribunal has been told by a senior official of the bank which loaned £500,000 to Denis O'Brien's accountant that it didn't know it was for former Minister Michael Lowry.

Michael Cullen, who was CEO of the former Woodchester Bank, said he gave Aidan Phelan the money for a Manchester land deal under a company name of "Cat claws".

Michael Cullen said he didn't realise the only directors of the company were Michael Lowry and his daughter Lorraine.

He said he was under the impression Cat claws was Aidan Phelan's company.

Mr Cullen also said they were comforted when they heard that Denis O'Brien was aware of the loan.

However, the businessman denies any knowledge of it and a second property deal involving Mr Phelan and Mr Lowry.

Woodchester Bank was taken over by Investeq Bank, which is said to be angry about the existence of this loan and the manner in which it was administered.

The bank brought the loan to the attention of the Tribunal earlier this year.