Wednesday 17 January 2018

Corr must explain to court where €4m in bank went

Jim Corr
Jim Corr

Tim Healy

MUSICIAN Jim Corr will be asked to explain in court next week what happened to some €4m held in his various bank accounts six years ago.

Mr Justice Peter Kelly was yesterday dealing with matters in advance of the resumption on July 3 of the High Court examination of Mr Corr by ACC Bank as part of its efforts to be paid some €778,000 outstanding from a €1.4m judgment.

Bernard Dunleavy, for ACC, said it had brought an application concerning documents that it was anxious to see prior to the resumed examination but had still had not received despite indications from Mr Corr that those would be provided.

Mr Corr's attitude was "very disappointing" and the court should direct the bank be given the documents by Thursday this week, counsel urged.

Ross Aylward, for Mr Corr, said his client would provide documents in four of the five categories sought on Friday.

Mr Corr was not aware that he was required to provide documents related to the €4m sum and it would take some time to produce such a wealth of documents, counsel added.

Having heard from the sides, Mr Justice Kelly said it was regrettable that the bank had to bring the application when, during Mr Corr's examination on May 15, it was indicated to the court then that various documents would be provided.

Those documents include bank account statements concerning a sum of stg£295,000 received from the sale of a property and a Spanish bank account into which €350,000 was paid concerning sale of an apartment at Donnybrook Castle, Dublin 4.

OBJECTION

Noting Mr Corr agreed to provide those documents, the judge directed that should be done by 5pm this Thursday, as the bank had sought.

In relation to any documents concerning the €4m sum, the judge said it seemed the bank wanted an explanation as to what happened to that money and was also concerned about the transaction leading to sale of the Donnybrook Castle apartment.

While he did not believe he could or should order disclosure of such documents prior to the hearing, given the objections made, Mr Corr was clearly on notice he would be asked about this and it would be in his interests to bring any relevant documents that he had with him, the judge said.

ACC obtained judgment on consent in February 2011 against Mr Corr and Liam Marks, of The Coach House, Sandymount, Blackrock, Dundalk, Co Louth, over an unpaid loan advanced in 2004 to buy lands at Goresbridge, Co Kilkenny, which were later sold.

Irish Independent

Promoted Links

Today's news headlines, directly to your inbox every morning.

Promoted Links

Editor's Choice

Also in Irish News