Lindsay Lohan in the THEIA gown

It was a case of live and learn for in-demand Irish designer Don O’Neill, who lent “actress” Lindsay Lohan a couture gown worth $1,750 to wear to a charity event – only to have the bejeweled creation literally torn to bits after Linds indulged in yet another wild night on the tiles.

O’Neill’s New York-based Theia label, which also designed the dress that Carrie Underwood wore to the Grammys, lent Lohan’s stylist the gown for her to wear to an amFAR fundraiser in New York a few weeks back.  Shockingly – not! – she went clubbing after the party, ripped the dress in the process and proceeded to slice the bottom half off “because she couldn’t possibly wear it like that,” a source told Us Weekly.

A spokesperson for Co. Kerry native Theia said, "The dress was loaned in good faith to Phillip Bloch, Lindsay Lohan's stylist. We were informed by Mr. Bloch's assistant that the dress was damaged during the course of the evening. The dress has not been returned, and it wasn't until we saw the photos in the media that we became aware of the actual condition of the gown."

O’Neill, a native of Co. Kerry, will surely steer clear of Lohan in the future. Then again, he’s gotten some nice publicity as a result, so maybe it was a fair trade!