The Commercial Court has been told that a settlement has been reached between Dundalk musician Jim Corr and ACC Bank in relation to a judgment against the musician of €1.4m.
The bank secured the judgment in February 2011, after debts arose following the collapse of an investment business partnership involving Mr Corr.
He had claimed it was unfair that the bank was pursuing him for all the debt, when he had been involved in a partnership with two other men.
In cross-examination in May, lawyers for ACC accused Mr Corr of selling a property in order to put it out of reach of the bank.
The musician was due to face further questioning this morning, but the Commercial Court was told agreement had been reached between the parties.
Lawyers for the bank said the parties had had a “useful engagement” since the last hearing in May, and that details of an “agreement in principle” would be brought before the court this afternoon.
