Paddy McKillen has told the High Court in London that his total personal indebtedness to Bank of Scotland (Ireland) and IBRC, formerly Anglo Irish Bank, is in the region of €360m to €370m.

Mr McKillen is suing the millionaire Barclay brothers in a dispute over ownership of three top London hotels.

Giving evidence today, Mr McKillen agreed that in 2011 his total exposure and that of Coroin, the company which controlled the hotels, was in the region of €1.6bn.

Mr McKillen agreed that no substantive loans to IBRC had been repaid since February 2011.

He said this was because of legal action in Dublin, which he had been taking against the National Asset Management Agency.

He said he had always met interest payments on the loans and that the IBRC and Bank of Scotland (Ireland) had been very supportive.

Mr McKillen agreed that he owned property in Argentina, the US, Ireland, France, Dubai, Germany, the UK, Kazakhstan and Vietnam.

Counsel for the Barclay brothers put it to Mr McKillen that the developer did not want the Irish taxpayer to know that he had assets all over the world that could be liquidated to pay back the bank.

Mr McKillen said that was nonsense and described his relationship with IBRC Chief Executive Mike Aynsley as excellent.

Mr McKillen said that with the quality of his assets, the IBRC was 100% sure of getting 100% of its money back for the Irish taxpayer.

Later in his evidence, Mr McKillen said that he had sold off a number of assets to help pay down debt.

They included a property on London's Oxford Street to pay off a loan from Bank of Scotland (Ireland) and a property at Place Vendome in Paris to pay off Bank of Ireland.

He said that £40m had been raised after the banks had been paid off.

Suggesting that the cash should have gone to repay the Irish taxpayer, counsel representing the Barclay brothers asked Mr McKillen if the IBRC knew that he "had this free cash".

Mr McKillen replied that "they probably did" and said that the money had been reinvested in assets in Argentina or the south of France.

Mr McKillen will continue giving evidence tomorrow. The trial is expected to last another two weeks.