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Corr sold off his flat after €1.4m judgment

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Jim Corr at court. Photo: Collins

Jim Corr at court. Photo: Collins

Jim Corr at court. Photo: Collins

MUSICIAN Jim Corr has told the High Court he was trying to protect his and his family's interests when he sold off a mortgage-free Dublin 4 apartment for €350,000 shortly after a bank got a court judgment against him for €1.4m.

Under intense questioning about his finances by counsel for ACC Bank, which is owed the €1.4m, Mr Corr said he was "trying to protect what I could" once the bank got its judgment relating to an unpaid loan for the purchase of 94 acres in Goresbridge, Kilkenny.

"I was trying to protect my finances as best I could on behalf of my son because I was in dire straits," he said.

Mr Corr, a member of the band The Corrs alongside sisters Sharon, Andrea and Caroline, was asked a number of times by Bernard Dunleavy, for ACC, whether it was just a co-incidence or a deliberate effort to make sure the bank did not get possession of the apartment at Donnybrook Castle, Dublin 4, that it sold a month after the February 2011 judgment.

Mr Dunleavy said it was an extraordinary sequence events as the apartment was bought by a Malta-based entity called I and E Properties, which had no turnover that year but paid €350,000 for the the Donnybrook property.

 

Devastated

I and E was fronted by Mike Young, who was an associate of solicitor Mortimer Walters, the founder of Mr Corr's former solicitors, Adams, who had also acted for I and E in the purchase, counsel said.

Counsel also said Mr Young was an associate of a German national, Florian Karrer, who around this time had bought another apartment from Mr Corr at Sharman, Old Windmill Road, Bangor, Co Down, for st£295,000 and allowed him (Corr) to live on it rent-free for three years.

Mr Corr told Mr Dunleavy he was trying "to sell everything" from a portfolio of properties he had built up with his former partners Liam and Phillip Marks (MarksCorr Partnership). Mr Corr said he was trying to protect his son as his finances had been "devastated".

The court heard the €1.4m judgment ACC is seeking to enforce was also against 50pc shareholder in the partnership Liam Marks.

"I was trying to protect a situation as best I could," he said.

hnews@herald.ie


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