A financial adviser has claimed in the High Court that his signature was forged on a joint investment agreement regarding a €3.3 million hotel and fishing lodges development on 100 acres in Co Mayo.
Mr Enda Hunston alleges that his signature was forged on a joint investment agreement (JIA) of March 28th 2002 between himself and four other businessmen, including a former Esat Digifone chief executive, Mr Barry Moloney, Mr Moloney's brothers, Alan and James, and a British venture capitalist, Mr Bruce Dunlevie.
The defendants have denied that the signature was forged.
They plead that the signature in question is Mr Hunston's and they have claimed that he is seeking to renege on the investment agreement because the contractor who was selected after a tender process to undertake the main development was not the contractor of Mr Hunston's choice.
They deny that the arrangement involving them and Mr Hunston is a partnership and plead that the agreement specifically excluded a partnership.
They also plead that a fundamental part of the investment agreement was that the parties to it would operate in good faith, would regard the development as a long-term venture and would not initiate legal proceedings seeking to have their part of the property sold.
Proceedings by Mr Hunston against the Moloney brothers and Mr Dunlevie opened yesterday before Mr Justice Ó Caoimh and are expected to last for several days.
Mr Michael Cush SC, for Mr Hunston, said that the heart of the case was an allegation which "could hardly be more serious in the affairs of commercial men".
Mr Hunston was claiming that his signature had been forged to an important document purporting to regulate valuable business affairs between the defendants and himself.
The defendants were saying that the signature was Mr Hunston's and positively asserted the circumstances in which he signed it. They also pleaded, in a counterclaim, reasons for what they described as the false accusation of forgery.
The issue could hardly be more simple, Mr Cush said. Mr Hunston said there was a forgery, the defendants said there was not, and the court was faced with a total conflict on that.
Resolution of this issue would resolve all the other matters in the case, including whether a partnership existed between the sides.
Mr Cush said Mr Hunston became friendly with Mr Alan Moloney while working with Norwich Union and had met Mr Michael Moloney through Alan Moloney. While he had heard of Mr Barry Moloney through reputation, he did not meet the latter until the events which had led to the court proceedings.
In 1997 Mr Hunston went into business on his own and specialised as an adviser regarding mortgages and pension plans. His particular expertise was investment in tax-designated properties.
He was involved with a developer in Co Sligo who had asked him to look at a property, Mount Falcon, situated on 100 acres near Ballina, Co Mayo, including 1½ miles of Moy river bank.
The case continues today.
