Bank executive continues evidence at Moriarty

The Moriarty Tribunal has heard that former minister Michael Lowry was never

mentioned to the bank that lent his company STG£420,000 to buy a property in Britain.

Michael Tunney, the senior executive at the Investec bank, told the tribunal today that Denis O'Brien's advisor organised the transaction.

He said: "As far as I was concerned, Mr O'Brien's accountant, Aidan Phelan, wanted the money for a property deal for Mr O'Brien.

"I was aware that Denis was behind it, but I didn't want to be associated with the deal."

The funds eventually went to a company called Catclause Ltd., of which Michael Lowry was a director.