Every time the Murphy Group was mentioned to Mr James Gogarty at a meeting in his home in June 1996 he went "absolutely demented", the tribunal heard.
Mr Michael Bailey said that at the meeting he attended with his brother, Tom, he was worried Mr Gogarty might "drop dead" as a result of his anger.
However, he said Mr Gogarty told him he was prepared to forgive the group if he received £100,000 and an apology. The meeting was held to "settle up" final payments due to Mr Gogarty for his work on the sale of the Murphy lands to Bovale Developments.
At the meeting Mr Bailey said he was given a handwritten list of Murphy Group directors by Mr Gogarty and asked to arrange a meeting with somebody in the group.
"I suggested at the meeting that in any way I could resolve the differences between him and Mr Joseph Murphy snr and Mr Murphy jnr, I would be very willing to help both parties," said Mr Bailey.
He added: "At the outset, I said to him if the man [Mr Murphy snr] apologised to you and shook hands with you, would you not forget the hard feelings that you have against each other? I explained to him that they were two elderly men and should have more sense and not be going around having a go at each other.
"Then he got highly excited and brought us upstairs to show us these accounts that were laid out in a room upstairs," said Mr Bailey.
He said Mr Gogarty then "started roaring and shouting and saying `they wanted me to sign those accounts'. We were nearly frightened the man was going to conk out".
Answering questions from tribunal counsel, Mr Desmond O'Neill SC, Mr Bailey said: "This man was going about the house absolutely demented about the Murphys. He'd be pounding and hitting tables and walking up and down. I actually found it distressing for the simple reason that the man could drop dead in front of me."
After "trying to settle him down", the three men came down to Mr Gogarty's front room and he started showing the Bailey brothers his window and said: "Look at the holes in the window". Mr Bailey said he believed there were pellet holes in the window.
The conversation then focused on the idea that if Mr Gogarty got £100,000 and an apology he would be happy to let the Murphys "off the hook".
However, he said, as the conversation progressed Mr Gogarty "abandoned" the idea of £100,000 and was prepared to settle for just an apology.
Mr Bailey said the meeting also dealt with two cheques he had given Mr Gogarty in 1989 as security for a £150,000 finder's fee relating to the Murphy lands. He said there was a problem in getting one of these cheques back from Mr Gogarty.
"I specifically asked for the cheque back and he informed me that the cheque was with Donnelly, Neary, Donnelly in the North of Ireland," said Mr Bailey. Donnelly, Neary, Donnelly was a Newry firm of solicitors.
"He specifically said there were outstanding fees to them, and they would not release it until they paid their fees. He specifically mentioned the figure of £12,000 as outstanding to Donnelly, Neary, Donnelly," he added.
He said it was his belief that one payment of £32,000 was made to Mr Gogarty at that meeting. When asked by Mr O'Neill whether he indicated at one point that the payment was £20,000, he answered: "I may have at one stage".