Michael Flatley again in courtroom over Cork Manor insurance coverage case

Lord of the Dance star Michael Flatley is again in courtroom over the adequacy of insurance coverage cowl at Castlehyde, his Co Cork mansion.

The Business Courtroom heard right this moment that the receiver appointed for the posh mansion desires the interim injunction stopping him from taking motion on the property to be lifted resulting from issues over the adequacy of canopy property insurance coverage.

And the courtroom heard Mr Flatley’s lawyer, Ronnie Hudson BL, stated that on Tuesday this week the star elevated insurance coverage cowl for the mansion from €4million to €8million, with a further bonus of 90,000 euros.

Mr Hudson instructed the courtroom there was enough insurance coverage cowl in Castleyhyde and he would carry a dealer to courtroom to offer proof.

13 days in the past, a Excessive Courtroom choose granted an interim injunction to Mr Flatley prohibiting a receiver or his brokers from taking any motion in relation to the star’s mansion in Fermoy.

The order got here because it emerged the mansion had been put up as safety for a €5.6 million mortgage taken out by his London movie firm in 2023 and a receiver had been appointed for Castlehyde .

A receiver was appointed following the compensation of the mortgage to the movie firm and Mr Flatley stated all mortgage repayments had been made in full by the movie firm.

In courtroom on Wednesday, receiver’s lawyer Kelley Smith SC stated he was searching for to have the interim injunction put aside and the difficulty was the adequacy of the duvet.

She stated the Flatley celebration had despatched them insurance coverage paperwork and one other coverage had been taken out the day earlier than, however the problem was the scope of the insurance coverage and Castelhyde’s coverage was restricted and included components comparable to fireplace, lightning and explosion.

The lawyer stated the coverage didn’t cowl all dangers and was not an all-risks coverage.

Ms Smith stated there had been “a checkered historical past of occasions on the property” and points referring to insurance coverage cowl.

She stated Flatley’s group now claimed to have insurance coverage cowl of €8 million, however she stated this associated to a restricted vary of dangers.

The joint trustees of Castlehyde needed complete insurance coverage cowl and had taken out a 30-day insurance coverage coverage for Castlehyde which can expire on January 2 subsequent yr.

She stated Castelhyde was on the nationwide monument listing and was in a rural setting and resulting from media consideration it was now well-known that it was unoccupied.

Ms Smith stated this was a matter of very severe concern and the receiver was ready to say he wouldn’t take steps to eliminate Castelhyde if the interim injunction was lifted.

The receiver’s lawyer stated he needed to take possession of the constructing and make inquiries to acquire the underwriting data.

The lawyer stated the matter have to be resolved by January 2.

Mr Flatley’s lawyer Mr Hudson instructed the courtroom a caretaker lives in a gatehouse and there’s additionally a cleaner at Castlehyde and the insurance coverage coverage had been elevated Tuesday this week.

Choose Mark Sanfey, who adjourned the applying till tomorrow Thursday, stated it was a really severe problem if a big property didn’t have enough and applicable insurance coverage cowl.

He appreciated that the applying was made fairly out of the blue, however stated the case couldn’t transcend the top of this week.

The choose stated that he thought of the scenario to be a really severe one and that if he determined that the receiver’s lawyer was proper and that the receiver ought to have entry to Castlehyde, the choose stated that he would count on that the events mix their efforts to safe the property. .

The choose stated he’ll should be happy there’s applicable insurance coverage on Castlehyde.

Novellus Finance Ltd, which offered the €5.6 million mortgage, insists there was a default on the mortgage to Blackbird Movie Productions Ltd and for which Mr Flatley offered a safety based mostly on the worth of his Castlehyde manor in Fermoy, Co Cork.

Flatley and Blackbird deny all of those allegations.