Jeweller to receive commission on ring

A jeweller is to receive a 5pc commission on the sale of a 8.38 carat diamond ring he sold belonging to the wife of Collon developer John McCabe.

A jeweller is to receive a 5pc commission on the sale of a 8.38 carat diamond ring he sold belonging to the wife of Collon developer John McCabe.

The ring, which belongs to Mrs McCabe, was brought to Florida and was sold for US$205,000 (€150,000) after NAMA applied to have a receiver appointed over the jewellery, which includes a bracelet and a diamond necklace.

In the Commercial Court last week, Mr Justice Peter Kelly was told the issue surrounding the jeweller’s commission had been resolved.

Mr Justice Peter Kelly in the Commercial Court was told an issue over the jeweller’s commission had been resolved.

The jeweller, John Farrington, of Farrington’s in Dublin, was to be allowed his 5pc commission on the sale. The commission was €7,494.

Judgements totalling €20m were made against Mrs McCabe.McCabe Builders, owned by Mrs McCabes son, were previously sponsors of the Louth GAA team.

The McCabe group of companies owe NAMA more than €235m