Former financier Mr George Finbarr Ross yesterday denied he had "misrepresented" the bankrupt International Investments Limited (IIL) at a meeting of brokers in a Belfast hotel to "bail out" the company.

Mr Ross was giving evidence for the third day at Belfast Crown Court where he is on trial for a series of fraud charges including dishonestly attempting to procure investments at a meeting in the Stormont hotel in Belfast in December 1983.

He insisted he was unaware in 1983 of the problems the company faced over the renewal of the bankers' licence and its cashflow difficulties.

Mr Ross (54), who was extradited from the US to stand trial, claimed he was occupied with IIL's US investments at that time and that his partner, Mr Frank Murray, was in charge of supervising the company in Ireland.

Asked about the Belfast meeting in December 1983, Mr Ross said: "The objective was to thank the people for the business they had given us during the year and to give them an overview for the coming year."

He said: "The purpose of the meeting was not to get them to pull out their chequebooks."

Crown prosecutor Mr John Creaney QC asked: "Did you ever say publicly this company is doing very well?" Mr Ross said "It's possible" and then, "I honestly don't know".

Mr Creaney suggested that at that meeting Mr Ross and Mr Murray "knew very, very well the company was totally bankrupt. You knew it was absolutely and completely non-viable".

Mr Ross rejected a further suggestion that the "only object [of the meeting] was to get those men who trusted you before, to put up a tranche of money and bail you out". The trial continues on Monday.