Former Taoiseach before planning tribunal

Former Taoiseach Albert Reynolds is to appear before the Planning Tribunal today to explain his role in a bid to buy north Dublin land through an offshore company.

The inquiry has heard that Mr Reynolds and business partner Patrick Russell were involved in a Channel Islands-registered company called Universal Management Consultants (UMC) which tried to buy lands near Swords from a company called Rayband, which is under investigation by the tribunal.

Mr Reynolds and Mr Russell were forced to repay £350,000 in sterling to builders and lost substantial sums when the deal collapsed, the inquiry heard.

Mr Russell, a businessman and barrister, has already told the tribunal that he and Mr Reynolds sought to buy the lands at Lissenhall between 1997 and 2001.

The lands, which are controlled by builder Joe Moran, were re-zoned for industry in 1992.

The tribunal is currently investigating claims by lobbyist Frank Dunlop that he paid money to councillors to secure this re-zoning.