Property owner Boyd Davis was immature and naive as well as being an alcoholic, the Supreme Court heard yesterday.

Lawyer Larry Madeiros denies stealing more than $500,000 from Davis between 1987 and 1989, while managing his finances and property dealings.

Davis, 64, blames Madeiros for the dwindling of a 71 acre estate he inherited.

He is now a tenant in what was his family home.

Investment manager Sheila Dickinson, the best friend of one of Davis' daughters, told the court of her worries about his financial affairs.

She was a friend and advisor to Davis, even taking him to hospital.

"He had a pattern of drinking until he got sick, taking two or three weeks in hospital to dry out and then staying dry for a month or two. Then he would start all over again.

"I thought he was very immature for his age and very naive as well.'' She said when Davis inherited the estate he had no income. He was living off a $50,000 overdraft and had to pay taxes and debts attached to the property, the Sleepy Hollow estate on the North Shore, Hamilton Parish. Total debts were $120,000.

He wanted to get the property out of debt and earn income from it, she said.

After trying one lawyer he went to Madeiros, who was given power of attorney in 1986.

Madeiros suggested he could sell a few lots and do renovations, thereby raising cash, she said.

Davis appeared to understand what was happening, said Dickinson. He knew which lots were being sold and when but was vague about money.

She said she never saw financial statements regarding the property, and advised Davis to ask Madeiros for them.

"I became frustrated. I pleaded with him to get statements.'' Although property continued to be sold, Davis told her that there was no money, she said.

"I told Boyd it made no sense that his property was being developed at a loss to him.'' Dickinson admitted Davis could be a lavish spender, taking at least 10 trips in three years and often spending $9,000 while away.

Top real estate consultant David Summers, of Bermuda Caribbean Engineering Consultants, told the court he met Davis in 1985 and was later hired by him to draw up a development plan for the property.

Two of the homes were uninhabitable and one had no working sanitation, he said.

Sales of eight lots progressed. But Madeiros told him more capital was needed and wanted to sell a lot that went beyond the original plan, said Summers.

He and Madeiros had sharp words about delayed building work. Then, in a heated phone call in late 1987, he was told by Madeiros that Davis wanted him discharged.

The trial continues.