star Michael Flatley has claimed that a court application to require him to put up €2.8million security for costs in advance of his upcoming action over works carried out at his Cork mansion, Castlehyde is “a final effort to derail my claim”.
And the entertainer in an affidavit opened to the Commercial Court said it was also an attempt to embarrass him.
Michael Flatley’s counsel, Ronnie Hudson BL instructed by Maxwell Mooney solicitor, told the court that the dancing star is an Irish citizen and has assets in this jurisdiction and he contended it could be “a form of discrimination” if the court were to make an order for security of costs against him.
Ms Justice Eileen Roberts has been asked by the parties being sued over work carried out on Castlehyde in Fermoy after a 2016 fire, to order that as much as €2.8m be lodged in court by the entertainer in advance of the hearing of the action.
A security for costs application is usually made when the defendants in the case apply to the court seeking to have their costs covered if they end up successfully defending the main proceedings. The application in the Flatley case is expected to last two days.
In an affidavit opened to the court, Mr Flatley said is continuing to sell out venues worldwide and he had spent the last 30 years of his life travelling the world promoting Ireland and Irish culture globally. He said has sold over €1bn worth of tickets.
, which he said had received “a lifetime of standing ovations” has been valued “at a conservative minimum of €200 million”. Mr Flatley also said a section of New York’s 42nd St was renamed Flatley Way in recognition of his Irish American cultural work.
Mr Flatley said his Statement of Affairs which valued at €200m, his whiskey business at €10m and his Castlehyde mansion at €20m is accurate. He said he owns all of the rights and intellectual property for and the valuation could be double the €200m figure.
He said his liability is a €7.9m mortgage on Castlehyde which will be repaid from his business activities over the next two years. He said he agreed with the €20m valuation on Castlehyde and he regarded the suggestion that a €10.5m valuation by the defendants for the mansion is in any way credible as “complete nonsense”.
Mr Flatley in the affidavit which was sworn last month also said he “intends to return to live in Ireland permanently as soon as possible”. Andrew Fitzpatrick SC for the underwriting and insurance defendants submitted Mr Flatley lives in Monaco, outside the EU.
He said Mr Flatley’s suggestion that could be worth €400m was a “wild assertion.”
The entertainer, he said, has repeatedly averred in court documents that he is a man of means and has means to pay costs and the court could take comfort in the fact that if it makes the order for security for costs it won’t stop Mr Flatley’s access to the courts.
The question to be answered, counsel said, is whether Mr Flatley has sufficient or ample assets in this jurisdiction against which an order for costs can be forced.
He said his clients were concerned there are not sufficient assets in this jurisdiction and he contended the €20m value Mr Flatley puts on his Castlehyde mansion should be discounted.
Counsel for Austin Newport, Stephen Dowling SC, said his side say that Mr Flatley used Castlehyde as a holiday home and as “an ad hoc temporary residence from time to time”.
In the main proceedings, the performer claims he and his family had to vacate the Castlehyde period property in October 2023 after alleged toxic chemical residue was detected during routine maintenance.
Mr Flatley is suing Austin Newport Group Ltd, the main contractor and insurance underwriters — MS Amlin Underwriting Ltd, AXA XL Underwriting Agencies LTD and Hamilton Managing Agency Limited along with Lloyds Insurance Company.
All of the allegations are denied. The application for security for costs continues on Wednesday.
