Builder and developer Jerry Beades is planning to take a Supreme Court challenge over the appointment of a receiver to one of his companies.

His move follows the successful application by the receiver to his Fairlee Properties, Kieran Wallace of KPMG, to move the case to the Commercial Court. Wallace was appointed receiver to Fairlee in July by ACC Bank to recover debts of about €1.5m. But Beades, who was awarded €4.7m by the High Court in 2007 after ACC lost the deeds to some of his properties, said he would be challenging the appointment of the receiver and the move of his case to the Commercial Court. He plans to represent himself in the case.

"I'm going to the Supreme Court with this. And I'll be representing myself. The banks know it costs a fortune in legal fees to go to the Commercial Court. It is completely unjustified," Beades said.

Beades, who is on the national executive of Fianna Fáil, also said that a proposal he has drawn up to cap the fees payable to accountants and the legal profession involved in insolvency work has been taken up by prominent backbenchers.