Musician Jim Corr has settled a legal battle with ACC Bank over the repayment of a €1.4 million land loan.

While the bank secured a judgment against the musician in 2011, the Commercial Court heard in May that €778,000 remained outstanding on the loan.

This deal came as Mr. Corr faced into a second day of cross examination by ACC Bank about his finances.

The musician was part of a business partnership that borrowed €1.4 million in 2004 to buy lands in Goresbridge in Co. Kilkenny which were since sold.

However around half the loan sum remained outstanding and judgment was entered against Jim Corr and his business partner Liam Marks in 2011.

At his last court appearance in May, Jim Corr was grilled by ACC lawyers and admitted he was in dire straits and had tried to protect his finances on behalf of his son after the judgement order.

The terms of the settlement are confidential. But outside court he expressed relief that the case is now over.