Courts: Jim Corr chased for €1.3m loan
ACC Bank are to bring High Court proceedings against musician Jim Corr and another man arising out of an alleged failure to repay a €1.3m loan obtained to buy land.
The dispute arises out of a loan agreement the Dutch-owned bank claims it entered into with Mr Corr and Mr Liam Marks, of the Coach House, Sandymount, Blackrock, Dundalk, Co Louth, for the purchase of 91 acres of land at Barrowmount, Goresbridge, Co Kilkenny. The bank claims that last June it demanded repayment of €1.36m from both men. However ACC says that the money has not been repaid, and intends to seek judgment for the full amount against both men. The bank loan was sanctioned in 2004.
Mr Corr (46) is a member of the acclaimed Dundalk band The Corrs.
Yesterday ACC secured an order from the High Court allowing them to serve the musician notice of the proceedings. In documentation put before the court a lawyer acting for ACC expressed his belief that Mr Corr had been evading being served notice of the bank's proceedings against him. Mr Justice John MacMenamin granted ACC an order for substituted service allowing the bank to serve Mr Corr notice of the proceedings by ordinary prepaid post at his normal place of residence at an apartment Sharman House, Old Windmill Road, Crawfordsburn, Bangor, Co Down.