JIM CORR, guitarist with the Corrs, has accused ACC bank of going for headlines after pursuing him through the courts over a land deal that went wrong in Goresbridge Co Kilkenny.
Mr Corr, consented to a o1.4 million summary court judgment against him in the Commercial Court on Friday the 18th of February. The judgement is the result of a Mr Corr and his two business partners, Liam and Philip Marks, failure to repay a loan that ACC bank made available to them for the purchase of 97 acres of non-residential land in Goresbridge Kilkenny.
Mr Corr and his business partners have previously tried to sell the land at the centre of the dispute at auction in the Newpark hotel but the all the lots were withdrawn before they made their reserve.
Mr Corr took to his website to hit back at ACC bank for pursuing him through the courts. He said “Obviously I am disappointed that ACC Bank chose not to allow the pending sale of the land to complete without recourse to the courts, but chose instead to press for a judgement at a headline grabbing figure now. I guess if you are a bank like ACC with no intention of carrying on business in Ireland, and you want to scare everyone that owes you money into paying it back, the hanging of a public figure is an attractive opportunity not to be missed. Once the sale of the land is completed, the loan balance remaining would not even move the needle compared to the staggering figures you see in the news papers every day, so it was now or never if they wanted to leverage their opportunity.
“My involvement in this transaction was as the financier of a partnership with Philip Marks, with whom I originally purchased some of the relevant land (25% each) along with his father Liam who purchased 50% of the land. I freely admit that I am better at writing songs than choosing business partners and I have badly misplaced my trust in these people.”