Court freezes businessman Morrissey’s assets below €36m

AN order freezing the accounts of businessman John Morrissey below €36m has been granted by the commercial court pending his bid to overturn a judgment for that sum obtained against him by the Irish Bank Resolution Corporation.

Mr Justice Peter Kelly made the freezing order yesterday as a condition of giving Mr Morrissey a stay on registration of the €36m judgment until the hearing next month of his application to set aside that judgment.

The bank was entitled to some comfort in circumstances where Mr Morrissey had declined to provide undertakings sought by the bank not to reduce his assets below €36m or enter bankruptcy or other arrangements with his creditors, he said.