Wednesday 21 March 2018

Junior minister had string of mortgages

Danske Bank applying to have legal action fast-tracked against Perry

John Perry: pursued for €2.5m
John Perry: pursued for €2.5m
Cormac McQuinn

Cormac McQuinn

SMALL Business Minister John Perry had a string of mortgages registered from various lenders over the past two years, an examination of Land Registry records shows.

Junior Minister Mr Perry (56) is being pursued for €2.5m in outstanding loan payments by Danske Bank.

The bank is applying to the High Court today to fast-track legal action against the Sligo-based TD and his wife Marie, claiming that the couple have failed to keep up repayments on a restructuring loan it provided in 2011.

Meanwhile an analysis of Land Registry records shows that Mr Perry had a string of mortgages registered since 2011.

The records show:

* An Irish Life and Permanent loan registered on a house next door to Mr Perry's existing home that he bought with his wife Marie in 2011.

* A June 2012 AIB charge registered on his Ballymote constituency office, which he has owned for more than 20 years.

* And a mortgage with Bank of Ireland is listed on papers for a 28-acre plot of land he co-owns with his brother Michael Perry (61).

A spokeswoman for John Perry said he had no comment on the mortgages or legal action being taken by Danske Bank.

His brother last night said he had planned to go into business with him to build a nursing home during the boom years.

But while he expressed solidarity with his younger sibling, he was keen to emphasise that his own businesses were completely separate, with their affairs up to date.


He said: "I'm a publican, I'm a funeral director and I do a bit of farming. I stick to what I know and I don't go into anything I don't know about."

He added that he had "reservations" about the 2007 plan to build a nursing home and, citing the failure of similar businesses in recent years, added: "Luckily, it didn't go ahead."

The TD and his brother Michael had planned to build a nursing home on their land at Ballybrennan in 2007 before the plans were scuppered by the collapse of the economy.

Property papers show that the 2012 Bank of Ireland charge is limited to John Perry's share of the land.

His brother Michael last night also confirmed that 12.8 acres of forestry land they own in the townland of Tunnagh is in the process of being sold for a sum "in the order of €18,000", minus conveyancing costs.

He said John would get half of the proceeds of the sale. He was critical of coverage of his brother's business interests in recent weeks, saying, "I find it distasteful".

Danske Bank is to proceed with its legal action today, claiming that Mr Perry and his wife are indebted, arising from an October 2011 facility provided to restructure existing loans.

It is seeking payment of the total sum outstanding, with interest, of about €2.46m.

Irish Independent

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