A DERRY businessman would be contesting claims that he and another Derry man appeared to have engaged in a conspiracy to defraud the AIB of more than £700,000, the High Court was told yesterday.
Mr Michael Cush, counsel for Mr Kevin McGowan, of Rosskeen Park, Hazelbank, Derry, said his client claimed he had been "wholly wronged" and had not had the benefit of any of the monies.
Last week, the High Court granted a temporary order restraining Mr McGowan, and Mr Gerard (Gerry) McCaul, of Lisnarea Avenue, Culmore Road Derry, from disposing or reducing assets below £735,000.
The earlier court hearing was told Mr McGowan maintained a deposit account trading as Bureau de Change at AIB's branch in Buncrana, Co Donegal.
It was claimed cheques for large sums had been lodged in Mr McGowan's account over a three day period this month and that a "D Harris", an authorised signatory on the account and a "K Harris" signed withdrawal dockets which were used to buy bank drafts. AIB had cheques returned to them marked "account closed". They had paid out £719,000 in bank drafts.
Yesterday, Mr Martin Hayden, counsel for the AIB, told the President of the High Court, Mr Justice Costello, that Mr McGowan was engaged in the business of a bureau de change and they did not wish to interfere with that but that he provide them, with accounts of daily transactions.
Mr Cush said they would be willing to supply information on a weekly basis and were seeking a variation in the injunction to allow Mr McGowan £200 a week living expenses.
Mr Justice Costello so ordered. He said AIB could come back to court at 12 hours notice.