Bank registers debt of €9.6m against Beades
BANK of Scotland Ireland (BoSI) has registered a debt of almost €10m against developer Jerry Beades, just days after Ulster Bank secured a €3.5m judgment against him.
The €9.6m BoSI judgment, first secured in the Commercial Court last year, was the largest debt registered last week according to debt weekly 'Stubbs Gazette'.
Last night Mr Beades, a former member of the Fianna Fail National Executive, revealed that BoSI secured an execution order on October 7, paving the way for the bank to move against his personal assets.
"I've lost everything, I've been wiped out, end of story," Mr Beades told the Irish Independent.
"There is nothing for any bank to recover, but I still have to get on with my life."
Mr Beades, whose support group Friends of Banking Ireland assists distressed debtors is appealing both the BoSI and Ulster Bank debts.