An insurance broker for Celtic Helicopters paid the company's insurance premium because he was afraid that if he did not, he would lose the business of other clients, including customers in the beef industry.
Mr Michael Murphy said that because his business was based on referrals and contacts, it would have been unwise for him "to make an enemy of the son of the most powerful man in the State".
If he had not paid the premium, the aviation company, set up by Mr Charles Haughey's son, Cia ran, would not have been able to operate. "I made a commercial decision that under no circumstances did I want to be known as the person responsible for the collapse of Celtic Helicopters due to its obvious association with Charles J. Haughey."
It was "primarily for this reason alone that I assisted the company with the payment of its insurance premium directly".
Mr Murphy said the Goodman group was one of his biggest clients in 1982 when he paid the insurance premium.
In fact, apart from Celtic Helicopters, the beef company was one of the only clients Mr Murphy had in the aviation insurance sector. This was a sector into which Mr Murphy was seeking to expand.
Mr Murphy said his business was built on hearsay and referrals and it would be "naive to suggest that if I were to pull the plug on that company [Celtic Helicopters], that I wouldn't suffer as a result of it".
He accepted that if he had not bailed out the company, the only people who would have known were Mr Haughey and other customers.
Mr John Coughlan, counsel for the tribunal, asked Mr Murphy whether his main concern was that he would lose the business of these other customers - "substantial customers in the beef business" - if he had not paid the premium.
Mr Murphy accepted this was the case.
Mr Murphy also told the tribunal how he raised a £100,000 investment in Celtic Helicopters after being approached by company directors Mr Ciaran Haughey and Mr John Barnicle in 1982.
The investment was raised from Mr David Gresty, a Monacobased businessman and chief executive of DB Agencies.
Mr Murphy said he told Mr Gresty: "I was happy the company could trade out of its position and had the potential, due to its contacts with the Haughey family to obtain, hopefully, air sea rescue service contracts and potentially other State contracts."
Mr Murphy assured Mr Gresty that he would not be at a loss regardless of how the investment materialised.
The broker said he was willing to assist Celtic Helicopters as he was seeking to expand his aviation insurance business.
When his company, Michael Murphy Insurance Brokers, first came into contact Celtic Helicopters in 1979, it would have been "unknown" in aviation insurance circles.
Since the investment in Celtic Helicopters seven years ago, this business had grown to "considerable size" due to referrals from the aviation company.
Mr Coughlan asked Mr Murphy whether he addressed the sensitivity of making the investment in late 1992, when both Mr Haughey and the Goodman group were acting as witnesses before the beef tribunal.
Mr Murphy replied: "It never crossed my mind."
Mr Murphy asked what he thought the Goodman group, as one of his biggest customers, would have felt if "right in the middle of the beef tribunal, it emerged that this transaction was taking place".
Mr Murphy said: "I can't answer that one either."
Mr Murphy had told the tribunal that he had provided it with all the relevant documents relating to the investment.
However, yesterday, he told the tribunal he had mislaid his file on Mr Gresty.
He said he would endeavour to ensure the tribunal received the file as soon as possible.
