Wednesday 21 March 2018

CAB civil case can resume

Tom Brady

Tom Brady

A HIGH Court case taken by the Criminal Assets Bureau (CAB) against businessman Jim Kennedy and Jackson Way Properties Ltd is now expected to resume.

The case had been on hold, pending the outcome of the criminal trial of Mr Kennedy and four politicians.

Mr Kennedy is a director of Jackson Way and the CAB is alleging the company had been unjustly enriched as a result of the rezoning of land in Carrickmines, Co Dublin, in 1997, contrary to the Proceeds of Crime Act.

The civil case started in the High Court in October 2010 after a seven-year investigation by the CAB into land rezoning.

But as Mr Kennedy left the court on the first day of the case, he was arrested by two CAB officers.

A subsequent garda criminal investigation resulted in the trial of Mr Kennedy and the politicians, which collapsed yesterday.

Mr Kennedy subsequently became ill while in garda custody and was taken to hospital for tests.

The High Court was told by counsel for CAB that the value of the farmland had increased to €6.6m when it was rezoned in 1997.

By 2005, before CAB initiated the unjust enrichment proceedings against Jackson Way, the land was estimated to be worth €53m.

But by 2010, it was worth an estimated €5.7m, counsel Diarmuid McGuinness said.

Mr Kennedy denies all allegations of unjust enrichment.

Irish Independent

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