Friday 15 December 2017

Don Tidey son facing €3.5m loan fund claim

Alistair Tidey, son of former supermarket executive Don Pic: Maxpix
Alistair Tidey, son of former supermarket executive Don Pic: Maxpix

Tim Healy

A fund is pursuing south Dublin businessman Alistair Tidey, son of kidnapped supermarket executive Don Tidey, for summary judgment for about €3.49m over alleged unpaid loans for property and other investments.

The proceedings by Promontoria (Arrow) Ltd against Mr Tidey, with an address at Mount Eagle, Vico Road, Dalkey, Co Dublin, were transferred to the Commercial Court yesterday. There was no response when Mr Tidey's name was called in court and he was not represented.

In court documents, the fund said solicitors for Mr Tidey previously said, in a June 2016 letter, they would not be entering an appearance on his behalf but that was without prejudice to any defence he may have. They also stated he was at that time residing in the Turks and Calcos islands. Mr Justice Brian Cregan said he would adjourn the summary judgment application for two weeks for purposes including allowing the defendant an opportunity to put in a sworn statement setting out any defence to the claim.

The fund said the case concerned loan facilities advanced to Mr Tidey and Simon Kelly - a son of developer Paddy Kelly - by EBS Building Society on dates in 2003 and 2006.

Mr Tidey is a son of Don Tidey, who was a senior executive with the Quinnsworth supermarket chain when he was kidnapped by the IRA in 1983. He was rescued after 23 days from the wooded area in Co Leitrim where he was being held.

Irish Independent

Promoted Links

Today's news headlines, directly to your inbox every morning.

Promoted Links

Editor's Choice

Also in Irish News