Jim Corr has said that he was only “doing what anyone else would do in my position” when he sold a house in Dublin to protect his finances.
According to reports the musician appeared in the Commercial Court yesterday where he was accused of trying to put an asset beyond ACC Bank’s reach.
Corr, who was being questioned about an outstanding loan of over €750,000 from the bank, sold the property in Donnybrook only a matter of weeks after ACC secured a court judgement of €1.44 million against him back in 2011.
Jim Corr appeared in the Commercial Court yesterday.
After denying that it was his aim to keep the property from the bank and being told by the judge to reconsider his answer, he said that he was trying “to protect what he could” for his son.
Corr was also questioned at length about a property he sold in County Down, Northern Ireland.
He told the court: “I’m a musician, I’m not good with figures, I depend on others and I’ve been left with a monster of an entity.”
With his sisters Andrea and Sharon.
He also added that he never thought he would be solely responsible for the loan considering he was only a minority shareholder. He entered into the loan with two other businessmen.
Corr revealed that he has had people knocking on his door looking for payments for the last five years which meant he had to sell “everything.”
The cross-examination will reconvene on the morning of July 3rd.
