Ulster Bank resolves dispute with developer over 'sensitive' documents

ULSTER BANK has resolved a dispute with a property developer over his alleged intention to exhibit the contents of three “sensitive and confidential” bank documents in court proceedings.

The bank had on February 20th last secured an interim order restraining developer John Kelly, of Hunter’s Moon, Kilquade, Co Wicklow, exhibiting the documents.

When the proceedings came back before Mr Justice Peter Kelly yesterday, the judge was told by Jim Phillips, for the bank, the matter had been resolved on terms which the parties had agreed would be confidential.

The terms were handed into court and the judge, on consent of Mr Phillips and John O’Donnell SC, for Mr Kelly, struck out the injunction proceedings. He was also told items given to the court in a sealed envelope could be returned to Ulster Bank.

When the matter was before the judge last month, Mr Phillips said the bank had no idea how Mr Kelly had procured either the internal and confidential documents themselves or copies of those.

It had been indicated to the bank Mr Kelly intended to exhibit the documents in relation to court proceedings brought by the bank, counsel said.

The documents refer to named persons, including a person who is the subject of a Garda criminal investigation and bank officials, and contain the bank’s observations on a number of persons.

The bank was concerned Mr Kelly might exhibit the documents in proceedings where the bank in late January secured conditional orders of garnishee – charging orders – on VAT refund payments apparently due to Mr Kelly from the Revenue.

The bank had in May 2008 secured orders on consent in other proceedings requiring Mr Kelly to repay some €2.9 million to it and the charging orders were sought in an effort to enforce that repayment.

The bank received correspondence from solicitors for Mr Kelly exhibiting an affidavit by Mr Kelly complaining the bank should have alerted him, as a former client of struck-off solicitor Thomas Byrne, of a potential problem.