THE High Court has set aside the transfer of a south Dublin apartment owned by musician Jim Corr to a Maltese company which ACC Bank claimed was an attempt to prevent the recovery of monies owed to it.
The orders were sought by ACC over the March 2011 transfer by Mr Corr of an apartment at The Shrewsbury Donnybroook Castle, Stillorgan Road, Donnybrook, to I&E Property Investments Ltd.
ACC claimed the transfer was a done in to prevent it recovering monies outstanding from €1.4m judgment it secured against Mr Corr in February 2011.
ACC says it is owed more than €850,000 by the Co Louth-born musician, with an address Old Windmill House, Sharman Road, Crawfordburn in Northern Ireland, who shot to fame in the 1990s as a member of The Corrs.
In 2011, ACC got judgment against Mr Corr and another man, Liam Marks, over an unpaid loan advanced in 2004 to buy lands at Goresbridge, Co Kilkenny, which were later sold
ACC recovered some €778,675 arising out of the sale of those lands. ACC registered its judgment against Mr Corr against his interest in properties in Co Louth, Co Kildare as well as the apartment in Donnybrook.
However, in March 2011 Mr Corr transferred his interest in the apartment to I&E, which is based in St Julian Malta.
ACC was unhappy with the transfer and launched proceedings against Mr Corr and I&E Property Investments.
In its action, ACC claimed the transfer of the apartment was done with the intention to defeat and hinder creditors, such as the bank, in a bid to avoid the consequences of the judgment obtained against the musician.
ACC alleged that solicitors acting for Mr Corr, Adams Corporate Solicitors, Custom House Dock, Dublin, acted for I&E in the purported transfer of the apartment.
ACC sought various orders and declarations from the court, including that the transfer of interest in the apartment was null and void.
Yesterday, when the matter was briefly mentioned before the High Court, Mr Justice Paul Gilligan was informed that Mr Corr had consented to the order.
The Judge said he was satisfied to make a declaration rendering the transfer of the property null and void.