Ulster Bank is pursuing developer Jerry Beades for €3.5 million arising from alleged unpaid loans.
Mr Beades, representing himself, today told Mr Justice Peter Kelly he had just received the bank's legal documents last Friday and wanted time to address matters as he will be working in Kurdistan over the next two weeks.
The judge refused to allow three weeks for Mr Beades to prepare an affidavit responding to the bank’s application to have the case fast-tracked in the Commercial Court, but allowed two weeks.
While the bank documents said its summary judgment claim arose from a restructuring facility of 2010, Mr Beades said the loans at issue go back to 1999. He also alleged €1.3 million had been taken out of an account with the assistance of a bank manager and claimed, as a result of “theft”, he had been forced to refinance.
Mr Justice Kelly said correspondence between the sides indicated the bank had in 2007 advised Mr Beades to bring such claims to the police and fraud squad. Mr Beades said he had told the bank, under Central Bank guidelines, it was supposed to report theft.
Mr Beades added he did not accept claims a signature on a loan document was his. His concern arose due to the fact he had raised issues about forged signatures, he said.
The bank issued its demand for payment of the €3.5 million last March arising from what it alleges was a May 2010 restructuring of various facilities.
