Courts / Meath / Report
"The money was just resting in my account": fund barrister quips on €28k gift
Summary
The High Court will decide in five to six weeks whether to approve a personal insolvency arrangement (PIA) for musician Frank McNamara and barrister Theresa Lowe, who owe €3.7 million. Judge Denis McDonald had previously said he would not proceed until an affidavit clarifying Mr McNamara's inheritance was filed. Financial fund Tanager DAC, owed €2.26 million and secured against the couple's €550 000 home, objects to the PIA and raises a potential €4 000 tax liability linked to a €28 000 gift that was moved from Mrs Lowe's account to Mr McNamara's and then distributed to their four children. The couple's counsel argues all issues have been addressed and that the tax claim should not block the PIA.
Who, what, where, when and why
What: Report matter: "The money was just resting in my account": fund barrister quips on €28k gift. Procedural stage: hearing_or_decision
When:
- 2020-01-17 Publication
Places mentioned
- The High Court
Topics
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