This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
OK
Dublin: 6 °C Sunday 24 February, 2019
Advertisement

Court hears Jim Corr's financial affairs are 'chaotic'

Jim Corr is being questioned about a €1.4 million loan from ACC Bank which remains mostly unpaid almost nine years later.

Irish band The Corrs, at the My VH1 Awards 2000, at the Shrine Auditorium in Los Angeles. The Corrs won the 'Best-Kept Secret' award.
Irish band The Corrs, at the My VH1 Awards 2000, at the Shrine Auditorium in Los Angeles. The Corrs won the 'Best-Kept Secret' award.
Image: HARVEY ANTHONY HARVEY/PA Archive/Press Association Images

Updated 2.20pm

THE ONLY MALE member of Irish band The Corrs is appearing before the Commercial Court today to answer questions about an outstanding loan of  €778,000 from ACC Bank.

Corr is being cross examined by the bank’s legal team about his assets following claims that he has liabilities of more than €6.5 million. The 48-year-old musician secured a €1.4 million loan in 2004, which remains mostly unpaid almost nine years later.

When he took to the stand this afternoon,  Corr was asked about his living arrangements. He told the court he pays the mortgage on a house for his ex-partner while he himself spends ‘most’ of his time in another house, which is owned by a German friend, Florian Karrer.

He told the court he met Karrer at party he attended with his sisters in Majorca in 2010 and said that although Karrrer has no ties to Ireland,  he fell in love with the country.

Earlier, Corr’s barrister Ross Aylward acknowledged that the musician’s financial affairs were ‘chaotic’ during an application for the case to be adjourned to a later date.

Aylward requested that JudgePeter Kelly drop the cross examination and said that his client wasn’t fully aware of all the relevant documentation which was needed today. The barrister said that this could lead to some confusion.

Bernard Dunleavy, barrister for ACC Bank, accepted that Corr had short notice of the planned cross examination, and said his client would agree to an adjournment if Corr would swear not to declare bankruptcy in any country.

When Corr’s barrister declined, Mr Justice Peter Kelly decided to proceed with the examination by ACC Bank, telling the court that although Corr may not have all the documents needed, but some of the information would be factual which he should know.

In 2011, Corr consented to a €1.4 million summary judgement order against him. The loan was initially intended to buy land at Goresbridge in Kilkenny.

-Additional reporting by Sinéad O’Carroll and Christine Bohan

Read a full account of Jim Corr’s testimony from Amy Croffey tomorrow morning on TheJournal.ie

THAT Jim Corr appearance on the Late Late Show>

  • Share on Facebook
  • Email this article
  •  

About the author:

Amy Croffey

Read next:

COMMENTS