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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. She claimed the monthly sums were to provide for her and her now-estranged husband Dermot Brady, their children’s education, and their “living and lifestyle expenses”. Barrister Keith Farry, for liquidator Tom Murray, said the sums were received by Ms Brady despite her having a very limited role in the company. 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. 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. Today's News in 90 Seconds - Tuesday, October 28 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 spending did not slow in any way after the firm started to suffer cashflow problems and fell into arrears with suppliers and the Revenue Commissioners. 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. Mr Farry told the court that of Jackie Brady’s portion, only around €30,000 remained. Asked by Mr Justice Brian Cregan what had become of the rest of her share, Ms Brady said “most of it” went on lawyers in family law proceedings in the UK. Ms Brady was seeking the variation of a Mareva injunction to allow her to use the remaining funds to pay for living expenses and legal costs. She is challenging the €765,000 judgment against her in the Court of Appeal. However, Mr Justice Cregan refused her application, saying there was no reason the liquidator or creditors should fund her living expenses or legal costs. The judge said he would instead direct that the funds be held by the liquidator pending the outcome of the appeal. Ms Brady claims to have been “defrauded” by her husband, and alleged in court that he was “abusive, coercive and bullying”. Mr Justice Cregan put it to her that as a director she knew or ought to have known the company was in difficulty. But she claimed she had no idea about her husband’s spending or the state of the company. “I am deeply sorry to the liquidator and any creditors. I never took €1 out of that business knowing it was in trouble,” she said. Mr Farry told the court there was no allegation of fraud against Ms Brady.
