"Jackie Brady told the High Court she had been receiving a "monthly spousal transfer" of €31,662 from AB Group Packaging since 2017. The sums were recorded as "drawings" in the company accounts, she said in an affidavit. Ms Brady also received monthly sums of €1,400 and €13,500 from the company for the rental of a warehouse in Blessington, Co Wicklow. Details of the large sums she received were outlined during an unsuccessful application by her for the variation of an injunction freezing her bank accounts."
"A liquidator's report said the firm was successful for many years, providing paper bags and packaging for "blue chip" customers, including Morrisons, Hollister, TK Maxx and Dunnes Stores. However, poor commercial decisions and the spending by Dermot Brady of company funds for personal use were cited as reasons for its collapse. Some €4.5m was drawn down by Mr Brady between February 2021 and the liquidation last May."
"The disclosures came three months after the liquidator secured judgments of €2.1m against Mr Brady and €765,000 against Ms Brady, who now lives in London. The liquidator rushed to court in May seeking to restrain the sale of a premises in Blessington linked to the firm. However, the sale went through. In an affidavit, Mr Murray said Jackie Brady received €466,171 from the sale and Dermot Brady got €164,474."
Jackie Brady received a monthly spousal transfer of €31,662 from AB Group Packaging since 2017, recorded as drawings, plus monthly rental payments of €1,400 and €13,500 for a Blessington warehouse. She claimed the payments provided for her, her estranged husband Dermot Brady, their children's education and lifestyle. The liquidator secured judgments of €2.1m against Dermot Brady and €765,000 against Jackie Brady. The firm had supplied blue-chip customers but collapsed after poor commercial decisions and Dermot Brady's use of company funds. Some €4.5m was drawn by Dermot between February 2021 and liquidation. Sale proceeds included €466,171 to Jackie, of which about €30,000 remained.
Read at Irish Independent
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