EBS action site value was ‘fabricated’

A MAN being pursued by the EBS Building Society over loans of €8.3 million to purchase development lands in Co Tipperary has alleged culpable conduct by the society in allegedly processing loans on the basis of a “fabricated” valuation.

David Dempsey, Poolahoney Lodge, Ballyduff, Arklow, Co Wicklow, told Mr Justice Peter Kelly yesterday he wanted a valuer with Sherry Fitzgerald to be joined to the case brought by the EBS against him.

Mr Dempsey said his defence would involve an allegation of culpable conduct by the EBS in relation to how it processed loans made to him.