Dublin based businesswoman, Deirdre Foley, shared in a €16.49 million dividend payout arising from the sale of the former Clery's department store site to the Press Up Group.
Last year, Paddy McKillen Junior's Press Up Group, along with a division of the New York based real estate firm, Rockefeller Group, and Core Capital, snapped up the site on Dublin's O'Connell Street for around €63 million in a deal with the Natrium consortium.
New accounts filed by Natrium Ltd show that Ms Foley would have received €3.29 million in dividends - before tax - from the firm's €16.49 million dividend payout, based on her 20% shareholding of the business.
London-based Cheyne Capital received the the vast bulk of the dividend payout, at €13.19 million, arising from its 80% share of Natrium.
It's over four years since Ms Foley, as the public face of Natrium, found herself at the centre of controversy over the contentious purchase and subsequent closure of the famous Dublin department store.
Natrium bought the department store for €29 million from US group, Gordon Brothers, in June 2015.
Soon afterwards, 130 Clery employees and 330 people working for concession holders lost their jobs with the closure of the store.
Natrium subsequently secured planning permission for a €150 million mixed use development and new owner, the Press Up Group, is continuing with construction work on Clery's Quarter today that is expected to provide over 400 jobs when complete.
The controversy around the circumstances of the redundancies has resulted in a number of court proceedings including two High Court judicial review cases.
Last year, a district court judge struck out all remaining summons against Ms Foley concerning the redundancies.
A note attached to the accounts states that Natrium is obliged to re-imburse legal costs incurred by directors and Ms Foley has sought an indemnity from the company in respect of all legal costs associated with all legal proceedings.
Natrium states that it established a legal provision last year of €436,725 as an estimate of the likely legal bill and the amount paid during the year was €239,926.
Speaking earlier this year on the eve of work commencing on Clery's Quarter, Ms Foley stated: "I am delighted to see the exciting plans for Clery's Quarter and I wish the developers every success. Their aspirations for this site vindicate our vision when we bought in in 2015.
"We helped lay the groundwork for the redevelopment. Natrium saw the potential for this wonderful property on an iconic street which had been neglected for 40 years," she added.
Gordon Deegan
