Counsel for the Flood Tribunal, Patrick Hanratty, has accused the builder Tom Brennan of "stone-walling" the tribunal.
Mr Brennan is now facing the prospect of High Court proceedings.
Mr Hanratty told the tribunal that it was a preposterous position that Mr Brennan could not obtain financial documents relating to an Isle of Man trust that he himself set up.
He said that Mr Justice Flood will have to take serious consideration as to where the matter goes from here.
However, Counsel for Tom Brennan confirmed that he had received documentation relating to Liechtenstein accounts and that he will present these documents to the tribunal.