ACC pursues Corr over €1.3m loan
Published 01/10/2010 | 05:00
ACC Bank is to bring High Court proceedings against musician Jim Corr and another man arising out of an alleged failure to repay a €1.3m loan, which was obtained to buy land.
The bank told the court yesterday that it wrote to the musician with legal notice of the proceedings -- but that registered letters were returned marked "Not Called for".
The dispute arises out of a loan agreement the Dutch-owned bank claims it entered into with Mr Corr and Liam Marks, of the Coach House, Sandymount, Blackrock, Dundalk, Co Louth, for the purchase of 91 acres of land at Barrowmount, Goresbridge, Co Kilkenny. The bank claims that last June it demanded repayment of €1.36m from both men.
However, ACC says that the money has not been repaid, and intends to seek judgment for the full amount against both men. The bank loan was sanctioned in 2004. Mr Corr (46), along with his three sisters, is a member of the internationally acclaimed band The Corrs.
Yesterday, ACC secured an order from the High Court allowing them to serve Mr Corr notice of the proceedings that the bank intends to bring against him at his place of residence, by ordinary post.
In documentation put before the court a lawyer acting for ACC expressed his belief that Mr Corr had been evading being served notice of the bank's proceedings against him.
Yesterday, Mr Justice John MacMenamin granted ACC an order for substituted service, allowing the bank to serve Mr Corr notice of the proceedings by ordinary prepaid post at his normal place of residence at an apartment Sharman House, Old Windmill Road, Crawfordsburn, Bangor, Co Down.
The court further made an order allowing the bank to serve further documentation arising in the course of proceedings on Mr Corr by ordinary prepaid post. The orders were granted on ex-parte basis (one side only).