A High Court judge has criticised the use of foreign bank loans to buy development land for the "paper accretion of apparent wealth".
Mr Justice Peter Charleton was rejecting a claim by a financial adviser for "consultancy services" to two developers. Joe Donnelly claimed he was owed €42,000 for advising Patrick Woods and Kevin McKenna, who had bought 18 acres of farmland near Monaghan town for €168,000 in 1999.
A housing association obtained planning permission in 2000...
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