Settlement between former FG TD and bank has broken down, court hears

A settlement agreement between former Fine Gael TD John Perry, his wife Marie and Danske Bank concerning a €2.47m judgment has broken down, the Commercial Court heard. The couple had consented to the judgment in 2013 following the bank's provision of a facility in 2011 to restructure existing loans. Danske claims the Perrys failed to meet obligations under a subsequent settlement arrangement and terminated the agreement last August. The bank is now pursuing recovery of the debt and obtained a High Court order requiring the Perrys to provide a statement of affairs detailing their assets. When the case returned before Mr Justice Brian Cregan on Monday, the deadline for compliance had passed without submission. The judge extended the timeframe by two weeks and directed that either Mr Perry or his legal representatives must attend the next court hearing. An accountant appearing on the couple's behalf stated Mr Perry was ill and cited difficulties obtaining information from the bank.