FIANNA FÁIL National Executive member Jerry Beades was told by a judge yesterday he should “face the reality” that he owes €1.5m to a bank in relation to properties owned by a company he controlled.

A bank appointed receiver is seeking orders for possession of premises belonging to a company controlled by businessman and Fianna Fail National Executive member Jerry Beades, the High Court heard today.

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.