A High Court action by a receiver appointed by ACCBank to a company owned by businessman Jerry Beades has been admitted to the Commercial Court list.
In the High Court today Mr Beades opposed the move, claiming bank was using the Commercial Court as 'an administrative tool'.
Mr Beades is a director of Fairlee Properties and has been engaged in a lengthy legal dispute with ACC. In court today he claimed he has been 'frustrated and bullied' by the receiver appointed by the bank. He also claimed the bank had not followed due process in attempting to recover a €1.5m debt.
He also told the court he plans to appeal previous High Court orders to the Supreme Court to protect his property rights. Representing himself in court, he said cases in the Commercial Court ran up huge legal bills which he could not afford. While the bank had deep pockets, he was 'a small man', he said.
Today's application by receiver Kieran Wallace sought to admit proceedings for possession of a number of properties owned by Fairlee Properties to the Commercial Court list.
The court heard that Fairlee Properties owes ACC just over €1.5m. A receiver was appointed after the bank demanded repayment of the sum in July last.
In a sworn statement, receiver Kieran Wallace said to date the debt had not been discharged and he had not been allowed proper access to the properties. He also said Mr Beades had failed to furnish him with a full list of 'alleged tenants' in the properties.
Mr Beades told the court the receiver was not entitled seek possession of the properties because it would affect the tenancy rights of others. He claims 20 employees could lose their jobs if the bank takes possession of the properties.
Mr Justice Frank Clarke said the only issue to be decided from today's hearing was the admissibility of the case to the Commercial Court list. He said banks had the same constitutional right of access to the courts as anyone else. Because the sum owed exceeded €1m it clearly qualified for the Commercial Court, he said.
In 2009 Jerry Beades was awarded €4.7m in compensation after it was discovered that ACCBank lost the title deeds to some of his properties. At the time the bank was pursuing him for a debt of €6.2m.
