Monday 18 December 2017

Brothers' bid to block €1.3m life payout fails

Ray Managh and Aodhan O Faolain

TWO brothers have failed in a bid to block a €1.3m life insurance bequest to the widowed husband of their dead sister.

John and Paul Cullinan asked the High Court for injunctions preventing their brother-in-law, Brendan Keogh, from dissipating the proceeds of the policy.

After throwing out their legal challenge to their sister Geraldine's will, Ms Justice Mary Laffoy suggested that the parties would be well-advised to consider an alternative dispute resolution mechanism to avoid further expensive litigation.

The brothers were joint directors with their late sister in Mycold Ltd, a refrigeration company. Together they had set up a company, Renmore, to provide pensions for the three of them.

They had taken out life insurance policies and claimed any policy proceeds were to be used to buy out the deceased's share in the partnership.

Their sister had died in 2011 and the €1.3m had been paid out to her estate, the sole beneficiary of which was her widower, Mr Keogh, from Ashford, Co Wicklow.

Judge Laffoy said there were no grounds for believing the money would not be available should the Cullinan brothers eventually win their case at the full hearing of their claim.

Irish Independent

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