Jackson Way in line for massive payout

Jackson Way, the UK company under investigation by the Mahon tribunal, is in line for a multi-million euro compensation payout after it was restored to the UK companies register.

The move clears the way for the company to secure massive compensation for lands it owns at Carrickmines in south Dublin which have been acquired for the South-Eastern motorway.

A decision by an arbitrator on Jackson Way's claim for €47 million in compensation for the lands is expected shortly, now that the company has been restored to the register.

Dún Laoghaire/Rathdown county council says it is willing to pay just €7.6 million for the 20 acres of lands that it acquired.

The arbitrator, Mr John Shackleton, had planned to announce a decision last February. However, this was delayed when the company was struck off the UK register at the start of this year for failing to file a return.

The property and rights of companies that have been struck off belong to the British crown.

However, representatives of Jackson Way last week filed annual returns and applied successfully to the British courts for restoration.

At the same time as Jackson Way was making this application, the tribunal was being told that the company is still refusing to co-operate with its inquiry.

Lawyers for one of those linked to the ownership of Jackson Way, solicitor Mr John Caldwell, said he was unable to compel the company to hand over documents because of a dispute between Mr Caldwell and another of the owners, businessman Mr Jim Kennedy.

Tribunal judges last week criticised the "strange and cynical" attitude of the company to co-operation with their inquiries. Judge Gerald Keys pointed out that Jackson Way participated in the arbitration hearing, where millions of pounds were at stake, but would not swear an affidavit for the tribunal.

The tribunal, which is currently investigating allegations of bribery centring on the Carrickmines lands, has been trying to unravel the ownership structure of Jackson Way for over four years.

Mr Kennedy, whom Mr Frank Dunlop accuses of paying £25,000 to have councillors bribed, has refused to come to Ireland from tax exile in the Isle of Man to give evidence to the tribunal.

Mr Caldwell has been summonsed to appear before the tribunal next month.

Tribunal lawyers want to know why Mr Caldwell claimed complete control over the company until the row with Mr Kennedy, but now says he is unable to influence its behaviour.

Mr Liam Lawlor, who has also been linked to ownership of the company, has denied any involvement, although he has a number of other business links with Mr Kennedy and Mr Caldwell.