High Court fast-tracks Jerry Beades action

Developer Jerry Beades is opposing Ulster Bank's claim for €3.5 million judgment against him on grounds including alleged fraudulent transactions involving various accounts in the bank, the Commercial Court has heard.

Ulster Bank has denied the claims. The bank had advised Mr Beades to pursue any such complaints with the Garda or other authorities but to date he had not done so and had also signed a restructuring facility, Andrew Walker, for the bank, said yesterday.

Mr Beades said he had received no monies under the arrangement which was a “roll-up” facility. He added he needed time to assemble documents and would be seeking material from the bank. The bank itself is supposed to report “theft”, he alleges.

Mr Justice Peter Kelly yesterday granted the bank’s aplication to fast-track its case against Mr Beades in the Commercial Court. Noting Mr Beades is representing himself without the resources available to the bank, the judge said he would allow him until September 11th to prepare a full affidavit outlining his defence. Mr Beades is disputing the bank’s entitlement to summary judgment and is seeking a full plenary hearing.