Chronology of payments crisis

September 15th, 1995 Minister for Energy Mr Lowry appoints Mr Pat Dineen as chairman of Bord na Mona. He takes over from Mr Brendagan, who was chairman for 10 years.

December 1995, At monthly board meeting, Mr Dineen says certain in house practices have to change. Among these are the purchase of wine, said to amount to £2,000 per annum, for the use of the company and the purchase of a time share "arrangement" in Portugal for eight weeks per year. Bought in 1988 for £40,000, without the knowledge of the full board, it was used to reward executive performance.

The board was also briefed about a Revenue Commissioners audit. The Revenue had objected to some of Bord na Mona's payment methods and the company paid a £240,000 tax settlement. Of this figure, £15,000 related to expenses paid to managing director, Dr Eddie O'Connor.

Mr Dineen commissions Price Waterhouse to compile a report on Dr O'Connor's remuneration package.

April Report completed and a copy is forwarded to the Secretary of the Department of Transport, Energy and Communications, Mr John Loughrey, who, Mr Dineen later says, is seeking further clarification.

April 21st, The Sunday Tribune reports a serious rift in Bord na Mona over the Price Waterhouse report.

Bord na Mona executives issue statement rejecting report of management split. Dr O'Connor says the review of his salary arrangements is routine. He also says aspects of the package were agreed with the previous chairman, Mr Halligan.

April 23rd, Price Waterhouse report shows Dr O'Connor received £141,000 in expenses payments over the last three years. Over £53,000 of these were in the form of unvouched expenses paid without receipts having to be produced according to the report.

The total package including salary, pension and life assurance payments, director's fees and bonus amounted to £150,000 - £200,000 in each financial year.

Dr O'Connor's salary is capped at around £65,000 per annum, under the Gleeson scale which governs senior civil servants and the chief executives of State companies.

April 25th, Board considers report on Dr O'Connor's salary. Meeting lasts for eight hours and directors seek further information on the remuneration package.

It is decided that a new report on Dr O'Connor's remuneration should cover the nine years of his managing directorship.

April 27th, Irish Times publishes further details of the initial report into Dr O'Connor's remuneration package. The report shows that Dr O'Connor spent over £13,000 on flights during the three years it covers. Of this only £8,252 was identified as business related.

The report also shows that Dr O'Connor spent around £2,400 in the period on suits, which he charged to the company in lieu of medical insurance payments.

The report also shows that the company paid Dr O'Connor's membership of Elm Park golf club in Dublin. This cost between £987 and £1,045 per year.

Bord na Mona also paid the £9,020 per year premium on a bond which Dr O'Connor had with Sun Life of Canada.

April 28th, Worker directors in Bord na Mona ask for emergency meeting of the board to review developments.