MUSICIAN JIM Corr has consented before the Commercial Court to €1.4 million summary judgment orders against him in favour of ACC Bank arising from an unpaid loan advanced to him and others in 2004 to buy lands at Goresbridge, Co Kilkenny.
Mr Justice Peter Kelly was told yesterday by the musician’s counsel, Ciaran Lewis, that Corr would not be seeking to defend the bank’s claim and was consenting to summary judgment.
On the application of Bernard Dunleavy, for ACC, the judge entered judgment in the sum of €1,442,922, plus costs, against Corr, who was not in court.
Earlier this week, ACC also secured summary judgment for €1.4 million on consent against Liam Marks, The Coach House, Sandymount, Blackrock, Dundalk, Co Louth, arising from the same loan.
The bank’s proceedings against Corr, Sharman House, Old Windmill Road, Crawfordsburn, Bangor, Co Down, were also transferred to the Commercial Court last Monday but were returned to yesterday to allow Mr Lewis take instructions as to whether any defence would be proffered.
The case arises from a €1.2 million loan advanced to Corr and Mr Marks in November 2004 to assist in purchasing 97 acres of non-residential lands at Goresbridge.
The bank said Philip Marks, son of Liam Marks, was also a party to the letter of loan sanction but it was unsure of his whereabouts, having heard reports he is living in Hong Kong.
Once it ascertains Mr Marks’s whereabouts, it intends to bring proceedings against him, the bank said.
On Monday, Mr Dunleavy said there had been unsatisfactory talks in relation to the loan amounts outstanding from the defendants and the bank had in June 2010 demanded payment. It later issued the legal proceedings.
