Saturday 20 January 2018

Kennedy in line for €12.8m

James Kennedy leaves court yesterday with his daughters after corruption charges were dropped
James Kennedy leaves court yesterday with his daughters after corruption charges were dropped
Paul Melia

Paul Melia

BUSINESSMAN Jim Kennedy is in line for a €12.8m payoff from a local authority after it acquired 20 acres of the controversial Carrickmines site to build the M50.

The money was awarded to a firm that controlled the lands, Jackson Way Properties, of which Mr Kennedy is a director, in November 2003 after an arbitration hearing.

The land was acquired under a compulsory purchase order by Dun Laoghaire-Rathdown County Council to build the road, but Jackson Way and the council could not agree on the price.

The case was sent to arbitration, chaired by John Shackleton, who awarded Jackson Way €12,860,700, to be paid by Dun Laoghaire-Rathdown council.

The money has never been claimed and is held in a bank account, the council said last night.

The company was at the centre of the Carrickmines module of the Mahon, formerly the Flood, tribunal.

The gardai also investigated the firm, which led to the trial which collapsed yesterday.

It is not clear if Jackson Way will now seek to recover the money.

Paul Melia

Irish Independent

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