Former O'Brien advisor quizzed on loan to Lowry company

Denis O'Brien's former financial advisor has been questioned at the Moriarty Tribunal about a stg£420,000 loan organised by him for a company of which former Communications Minister Michael Lowry was a director.

Aidan Phelan set up the loan through Woodchester Bank.

The money was lodged through the company Cash Clause, and used to buy a property in Manchester.

In earlier evidence, it transpired that Denis O'Brien was aware of the transaction but did not want to be associated with it.

According to the chief executive of Woodchester, Michael Tunney, the bank believed the money was for Mr Phelan and had no connection with Mr Lowry.

The bank also thought that Mr O'Brien was behind Mr Phelan as a supporter.