ACC Bank seeking repayment of €7m loan made to property development company

ACC BANK is seeking a High Court order requiring repayment of loans of almost €7 million, plus interest, made to a property development company and two of its directors.

The action is against Fairlee Properties Ltd, of Richmond Road, Fairview, and its directors Jerry Beades and Niall Ring.

They are disputing the claims and are counter-claiming for some €30m for losses on property developments resulting, it is alleged, from the bank’s actions including its admitted loss of title deeds of properties.