Beades gets time to reply to bank claim

BANK OF Scotland is pursuing developer Jerry Beades in the High Court for the repayment of a €9.7 million personal loan given to him to develop an apartment complex in Dublin.

The bank sought judgment against Mr Beades in the High Court yesterday. Its senior counsel, Rossa Fanning, argued that, as the developer had failed to file papers responding to its claim by last Friday, he was offering no defence to it. On that basis, the lawyer argued that the bank was entitled to summary judgment for the €9.7 million due yesterday.

Mr Beades, who represented himself in court yesterday, borrowed the money to fund an apartment development on Richmond Avenue on Dublin’s north side.

He told Mr Justice John Peart that he intended defending the claim. Mr Beades explained that, on Monday, the High Court dismissed bankruptcy proceedings brought against him by ACC Bank.

He added that had those proceedings succeeded, he would not have defended Bank of Scotland’s claim, as there would have been no point. Mr Beades also questioned the validity of the bank’s affidavit outlining its claim against him.

He told the court that both the Law Society of England and Wales and the Law Society of Ireland had informed him that the solicitor in whose presence the affidavit was signed, Jack Sheehy, was not registered with either body as a practising solicitor.

Mr Beades also said the Law Society of England and Wales informed him that the fraud and intelligence unit was investigating the matter. He argued that the bank’s claim could be based on “criminal documents”.

Mr Fanning told the court that even though the bank had not responded to the “more exotic” claims made by Mr Beades, that did not mean it did not reject them entirely.

Justice Peart gave Mr Beades until Friday, June 22nd, to reply to the bank’s claim, and listed the case for mention on the following Tuesday, June 26th.

He advised the developer to ensure that his reply was as concise as possible, and explained that if he wanted to defend the action, it would be adjourned for a full hearing on June 26th.

The developer fought a series of actions against ACC Bank over a debt valued at more than €6 million. He is a former member of Fianna Fáil’s ard chomhairle, and was an associate of former taoiseach Bertie Ahern.