In 2001, Cormac Handy collected lottery winnings worth £3.3 million, a sum that could have secured his financial future. More than a decade later, the Irishman was in Galway District Court over a bank loan he had guaranteed for someone else. Ulster Bank wanted him to repay €14,371, including the outstanding debt, costs and interest. Handy maintained that he could afford only €50 a month. By then, he had told the court, much of his fortune had disappeared through losses on investments and the collapse of a construction business he had entered with his brother. The hearing in March 2013 brought his earlier windfall into the discussion.
Get breaking news anytime, anywhere. Download the TOI app now!
