Michael Lowry has been explaining his role in the purchase of land in Britain to the Moriarty Tribunal. A substantial amount of the funding came from a Denis O'Brien bank account to purchase the land.
Mr Lowry told the Tribunal that he and Denis O'Brien's close associate, Aidan Phelan, became involved in this transaction as a joint venture. Mr Lowry paid 10% of the purchase price and Aidan Phelan put up the rest.
Lawyers for the Tribunal have pointed out that documents relating to the purchase appear to suggest that Mr Lowry was the only purchaser in this transaction.
The Tribunal has already heard that Mr Phelan's share of the purchase price came out of a Denis O'Brien bank account. Mr Phelan told the tribunal this was a bonus payment that was owed to him.
Mr Lowry also said that the impression had been created that he was in some way or other responsible for the fact that three people related to his evidence were refusing to give evidence to the Tribunal. Mr Lowry said that he wished to reiterate that he had given waivers allowing these people to discuss his affairs with the Tribunal.
