Bank's €2.47m settlement with former TD Perry and his wife breaks down
A settlement agreement over a bank's €2.47m judgment against former Fine Gael TD John Perry and his wife Marie has broken down, the Commercial Court has heard.
Mr Perry, a former Sligo-based TD, minister of state and businessman, and his wife had consented to judgment against them for €2.47m in favour of Danske Bank in 2013.
The bank sued the couple arising from an October 2011 facility for some €2.42m provided to restructure existing loans. They did not fully repay the loan. Following the judgment, Dankse claimed it entered into a settlement with the Perrys.
The bank said the Perrys failed to comply with their obligations and last August it terminated the settlement agreement. Dankse believes the Perrys may have assets to satisfy the judgment. It has obtained an order from the High Court directing the Perrys to set out their assets in a statement of affairs.
The matter returned before the Commercial Court yesterday when Mr Justice Brian Cregan was told that the deadline for the Perrys to comply had passed and no statement had been provided.
Neither of the Perrys, of Carrownanty, Ballymote, Co Sligo, was present. An accountant said Mr Perry was ill. He also told the court the Perrys were unable to get the information sought.