Former taoiseach Albert Reynolds has denied he is the mystery owner of a share of land currently under investigation by the tribunal.
Mr Reynolds denied he held a minority interest in a site at Lissenhall, near Swords, as claimed by a business associate, Pat Russell.
Universal Management Consultants, a Jersey-based company owned by Mr Reynolds, attempted to buy the Lissenhall land in 1997 but was unsuccessful.
The tribunal is investigating allegations that three councillors were paid money when the land was rezoned four years earlier.
Tribunal lawyers yesterday questioned Mr Reynolds about a proposed joint venture agreement to develop the land involving UMC and a Derry firm of builders, O'Neill Brothers, under which O'Neills were to pay £600,000 sterling to buy out a "minority interest in the site".
Mr Reynolds rejected a suggestion by Mr Russell that he was the minority interest referred to in the document, saying O'Neills would never have come into the deal if he were leaving it.
Mr Reynolds said he wasn't a director or shareholder of UMC but acknowledged that he was its beneficial owner. When the joint venture failed to go ahead, UMC repaid £350,000 to O'Neills. Patricia Dillon SC, for the tribunal, outlined the movement of Mr Reynolds's money to repay this debt from London to the Uniman Trust in Jersey to UMC and back to Dublin again.
Asked about these transactions in 2001, Mr Reynolds said he supplied his legal advisers with the money when asked, and they dealt with the matter. That was their business and he wasn't familiar with the details.
He initially told Ms Dillon that UMC did not have an offshore bank account but later agreed that the money sent to Jersey was probably lodged in the company's bank there. Ms Dillon asked Mr Reynolds to consent to the inquiry seeking information directly from his offshore interests. His lawyers asked for time to consult their client before corresponding on the matter.
O'Neills invested £300,000 sterling in the project in 1998 and Mr Reynolds gave instructions for the use of most of this money. Asked about a £50,000 payment to himself, he was it was for day-to-day expenses. He said he also gave £25,000 to a builder from Derry, Tom McFeely, who had advanced money to Mr Russell.
Mr Reynolds said he first became involved with Mr Russell on a development project in Derry. They collaborated on several projects, with Mr Russell finding suitable land for development and identifying partners and Mr Reynolds sourcing the finance. Mr Reynolds said Mr Russell didn't have any interest in UMC but would get something if he did a good job.
In 1998, Mr Reynolds said he met the owner of the land, Joe Moran, who told him it wasn't for sale. He "pulled the shutters down" on the deal, paid whoever had to be paid and went back to working by himself. Lissenhall was a bad experience but in his next deal he made six to seven times what he had lost.
Judge Alan Mahon ruled out questions to Mr Reynolds about his alleged concerns concerning the granting of urban renewal tax incentives.
