ACC BANK has secured charging orders over about €451,000 held in a bank account in the name of a company after a judge ruled yesterday the money was beneficially owned by a former tax inspector being pursued by the bank for about €2.5 million in unpaid loans.

Mr Justice Peter Kelly granted the charging order yesterday to Lyndon MacCann SC, for ACC, over an Ulster Bank account in Blackrock, Co Dublin.

While that account was in the name of a company, the judge noted evidence the address for the company was bogus. In those and other circumstances, he said he was satisfied the funds in the account were beneficially owned by James Leonard Daly – otherwise James Daly, Shay Daly and Séamus Daly.

Mr Daly has not been seen for some time and remains in contempt of court, the judge noted.

An arrest warrant was issued by the judge last month for Mr Daly, a former inspector with the Revenue Commissioners, for contempt of an order requiring him to turn up at the Commercial Court for continuing examination about his assets as part of the bank’s efforts to enforce a €2.5 million judgment obtained against him.

Just hours before he was due to appear in court on February 3rd last, Mr Daly had sought to transfer some €451,000 from an account in the name of a company to Spain, the judge was told. The bank believes Mr Daly may be in Spain.

When the proceedings came before the judge yesterday, he granted the bank interim charging orders over the €451,000 sum and returned the matter to next week when he will deal with the bank’s application to have those orders made permanent.

The judge was also told yesterday that, after day-long talks, it was hoped a settlement would be finalised in separate proceedings by the bank aimed at enforcing a €2.6 million judgment previously obtained against Eileen Daly, Mr Daly’s ex-wife.

As part of its efforts to recover under that judgment, the bank secured an order overturning the transfer by Mrs Daly of her home at Kinvara, Woodleigh Park, Model Farm Road, Cork to her sons Stephen and Ian.