A commercial landlord in contempt of court over a €7 million debt to National Irish Bank has handed over his passport having been briefly held under police supervision.

John Meagher with an address at West Beach, Cobh in Co. Cork told the Commercial Court he has been in India and was unaware of the court proceedings until a friend informed him by telephone that it was all over the newspapers. The unpaid loan is secured on properties at Charlemont street.

Last month an arrest warrant was secured by Danske Bank - trading as NIB - over his failure to comply with the judgment and provide a statement of his means. He appeared in court voluntarily this morning.

He told Mr. Justice Peter Kelly that he was unaware of the court case because he has spent most of this year in India and Sri Lanka trying to set up holiday resorts in Tamil areas. He stuck to this account when counsel for NIB Rossa Fanning, BL, asked him if he was seriously suggesting that his solicitors had not informed him that he had been served with legal papers.

'I've committed no great crime'

Mr. Meagher questioned the attitude of the bank and he claimed it had tried to contact him at an address in Ashbourne where he has never resided. NIB’s response is that this was the address he had supplied to the bank.

The landlord also told the court he would like an opportunity to contest the judgment for just under €7 million. Mr. Justice Kelly then asked the businessman if he was prepared to surrender his passport and give an undertaking not to leave the jurisdiction until matters are dealt with.

Mr. Meagher admitted he was shocked when the judge told him that he was to be placed in police custody until his passport was handed over.

He said as far as he was concerned the case was 'a business matter'. 'I don't feel I've committed any great crime', he said.

After a brief adjournment the landlord located his passport which he handed into court. Mr. Justice Kelly advised John Meagher to obtain legal advice before suspending the arrest warrant until next Tuesday when the case returns to court.