Jim Corr settles €1.4m property debt

Jim Corr settles €1.4m property debt

Musician Jim Corr has settled a legal battle with ACC Bank over the repayment of a €1.4m land loan.

While the bank secured a judgment against the musician in 2011, the Commercial Court heard in May that €778,000 remained outstanding on the loan.

The deal came as Corr faced into a second day of cross-examination by ACC Bank about his finances.

The musician was part of a business partnership that borrowed €1.4m in 2004 to buy lands in Goresbridge Co Kilkenny, which have since been sold.

Around half the loan sum remained outstanding, and judgment was entered against Jim Corr and his business partner Liam Marks in 2011.

At his last court appearance in May, Corr was questioned by ACC’s lawyers and admitted he had tried to protect his finances on behalf of his son after the judgement order.

Outside court he expressed relief that the case is now over.

"I'm just relieved that this part is over, and just looking forward to getting back to do what I do best," he said.

The terms of today's settlement are confidential.

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