Man jailed over assets disclosure

A businessman was jailed for 14 days by the High Court yesterday for contempt of court in failing to make full disclosure of …

A businessman was jailed for 14 days by the High Court yesterday for contempt of court in failing to make full disclosure of his assets in relation to attempts by another businessman to recover money from him.

In November, Naseem Ahmad, of Old Clybaun Road, Galway, spent a number of days in prison for failing to comply with an undertaking that he would be personally responsible for any damages or costs awarded against a company with which he was associated, Fahd Foods, arising from previous court proceedings.

In the earlier proceedings, Mr Patrick Hynes, of Beltra Meats, Sligo, was awarded €363,000 and costs against Fahd Foods. Lawyers for Mr Hynes have been trying to recover the award. Yesterday, the court was told the situation had not yet been resolved.