A quantity surveyor being sued over the sale of the former Saehan site in Hazelwood has said he made no profit from the development and that he fully intends to defend himself against allegations made in court last week.

Quantity surveryor, Jackie McMahon in a statement to The Sligo Champion said he will be filing a full defence to the claims made in the Commercial Court in Dublin last week.

Three businessmen have claimed they suffered losses of more than €2.4 million because of allegedly fraudulent claims by accountant and tax specialist, Kenneth McMoreland, formerly of Gilroy Gannon accountants and Mr. McMahon concerning the purchase by Foresthaze of the Saehan site for a development of more than 300 houses.

The case has been brought by Arthur Grady, Kieran Grady, John Grady and their company, TJ Grady Ltd who have lodge dtheir case before Mr. Justice Peter Kelly in the Commercial Court.

It is against Mr. McMoreland and others practising as Gilroy Gannon, Stephen Street - Joseph Gannon, Bryan Kilfeather, Alan j. Palmer, Cathal O'Donnell, Paul Horan and Sinead McHugh; Jackie McMahon, Creggconnell, Rosses Point.

The plaintiffs are claiming damages including exemplary damages against Mr. McMoreland and Mr. McMahon and also want both men to indemnify them against any claims made under guarantees in favour of Foresthaze provided by them to AIB.

The businessmen alleged that it was only in February 2009 that they learned Mr. McMoreland and Mr. McMahon sought to make a 'secret profit' from a sub-sale of the site for €9.85 million under an earlier contract of April 2006 with Saehan Media Ireland Ltd. It is alleged that they then sought to sell on the site for €11.5 million in October 2006 in a deal between Mr. McMoreland, Mr. McMahon and Foresthaze.

However, Mr. McMahon in a statement issued through his solicitor, Mr. Donncha O'Connor, of Johnson and Johnson Solicitors, said:

"I am writing in relation to reports that have appeared in the local and national newspapers in relation to proceedings that have been brought against me and others in relation to the purchase and development of the former Saehan site at Hazelwood. These proceedings allege that I along with others, I made a secret profit arising out of this transaction.

"I wish to advise in the strongest possible terms, that I have made no such profit from this development and that I have instructed my solicitors to vehemently defend the allegations that are made against me. I have always and continue to pride myself on being a person of the utmost honesty, integrity and probity.

"The reports which have appeared in a number of newspapers have been based exclusively on the plaintiff's statement of claim and do not take into account, the defence that I will be filing in due course, through my solicitors.

"The allegations are a source of much distress and anxiety to me and my wife. Please be assured, that I will be doing everything within my power to preserve and vindicate my good name and character. As far as I am concerned my good name and character are the most important things that I have and I intend to defend them fully," said Mr. McMahon.