THE COMMERCIAL Court has ruled a receiver appointed by ACC Bank is entitled to orders for possession of certain premises in Dublin against a company controlled by businessman and Fianna Fáil national executive member Jerry Beades.
However, Mr Justice Peter Kelly said, while ACC was entitled to the possession orders against Fairlee Properties over non-payment of a €1.5 million debt, he would not make such orders until various persons and companies said to be in occupation of the properties were notified and given an opportunity to be heard.
In those circumstances, the judge deferred the proceedings to later this month.
Receiver Kieran Wallace is seeking orders for possession of properties located at 158 to 163 Richmond Road, Fairview, Dublin and Unit 6, Tivoli Centre, Richmond Road Industrial Estate, Dublin.
Mr Beades had argued ACC had no authority to appoint Mr Wallace as receiver on grounds the bank had about June 2009 internally written off most of Fairlee’s liabilities to it.
He also claimed he was entitled to damages, including exemplary damages, against the bank over appointment of the receiver.
Mr Beades also argued yesterday he was not getting “justice” because of how the case was being conducted and said he intended to apply to the Supreme Court.
Mr Justice Kelly rejected any unfairness to Mr Beades in how the proceedings were conducted. In light of various Supreme Court decisions, Mr Beades, as a director of Fairlee, had no entitlement to be heard on the receiver’s application but had nonetheless been heard yesterday and the proceedings were also adjourned to facilitate him, the judge said.