Tuesday 12 December 2017

Clarification: Michael O'Flynn

In articles in our edition dated July 18, 2010, we referred to the recent Fine Gael Golf Classic fundraising event held at the K Club in Co Kildare.

We stated that O'Flynn Construction had sponsored a €1,500 fourball in which managing director Michael O'Flynn played and also paid an undisclosed sum to sponsor the 18th hole at the K Club during the golf classic.

We have been asked by solicitors for Michael O'Flynn to clarify that Mr O'Flynn's involvement amounted solely to the entry of one team and that no further sum was paid by Mr O'Flynn or his companies towards the event.

We have also been asked to clarify that the transfer to Nama of some of the loans of the O'Flynn Group was a matter of law that was decided by the Oireachtas, that the decision to transfer did not involve Mr O'Flynn, that any loans due by Mr O'Flynn or any company of which he is a director continue to fall due and that no taxpayers monies have gone to him or to any such company.

Finally, we also stated that O'Flynn Construction held the "dubious distinction" of being one of Nama's top 10 most indebted property developers.

We are happy to acknowledge that Mr O'Flynn is not a dubious developer or a dubious person, that he does not engage in dubious activities and to clarify that no such inference was intended by us.

Sunday Independent

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