Lord of the Dance star Michael Flatley has claimed that a court application seeking he put up €2.8 million security for costs in advance of his upcoming action over works carried out at his Cork mansion is “a final effort to derail my claim.”
The entertainer, in a sworn statement opened to the Commercial Court on Tuesday, said the application was also an attempt to embarrass him.
Flatley’s counsel Ronnie Hudson BL, instructed by solicitor Maxwell Mooney, 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 €2.8 million be lodged in court in advance of the hearing of the action.
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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 the main proceedings, the Riverdance 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.
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.
In an affidavit, Flatley said the Lord of the Dance show 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 Lord of the Dance has sold over €1 billion worth of tickets.
Lord of the Dance, 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 Street was renamed Flatley Way in recognition of his Irish-American cultural work.
Flatley said his Statement of Affairs, which valued Lord of the Dance at €200 million, his whiskey business at €10 million and his Castlehyde mansion at €20 million, is accurate. He said he owns all of the rights and intellectual property for Lord of the Dance, and the valuation could be double the €200 million figure.
He said his liability is a €7.9 million mortgage on Castlehyde, which will be repaid from his business activities over the next two years. He said he agreed with the €20 million valuation on Castlehyde, and he regarded the suggestion that a €10.5 million valuation by the defendants for the mansion is in any way credible as “complete nonsense.”
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 Flatley lives in Monaco, outside the EU. He said Flatley’s suggestion that Lord of the Dance could be worth €400 million was a “wild assertion.”
The entertainer, he said, has repeatedly stated 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 Flatley’s access to the courts.
The question to be answered, counsel said, is whether 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 €20 million value Flatley puts on his Castlehyde mansion should be discounted.
The application for security for costs continues on Wednesday.
