Businessman Paddy McKillen jnr’s bid to set aside a bankruptcy summons issued against him over an alleged €2.1 million debt will be heard by the High Court in May.
When the matter was mentioned before Judge Liam Kennedy on Monday, he set a hearing date for May 11th.
The judge was told by barrister Keith Farry, for McKillen jnr, of Torquay Road, Foxrock, Dublin, the necessary legal documents had been exchanged between the sides.
Barrister Niall Ó hUiginn represented Herbert Street Finance unlimited company (HSF), the creditor who issued the bankruptcy summons.
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The summons, a first step in bankruptcy proceedings, was issued in late January. It alleged McKillen jnr would have committed an act of bankruptcy unless he paid an alleged debt of €2.1 million or applied to have the summons dismissed on grounds he was not indebted to HSF in any sum, or only in the sum of €20,000.
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HSF claimed the €2.1 million debt arose on foot of McKillen jnr covenanting to pay on demand the obligations of Cool Dust Ltd to HSF up to a maximum €3 million.
It claimed sums of €2.3 million were received in part payment of Cool Dust’s obligations but about €2.14 million remained due and owing, plus daily interest.
Farry told the High Court in early March he was seeking to set aside the summons and the matter would be “fully contested”. McKillen jnr, the court heard, denies he is indebted to HSF in any sum exceeding €20,000.
The bankruptcy matter was adjourned for mention to April 13th. Before that listing, McKillen jnr issued separate proceedings disputing liability for the alleged €2.1 million debt.
In those, he claims a December 2022 facility agreement between Cool Dust, himself and HSF is void and unenforceable and no sum is due by him to HSF.
Among various claims, he alleges HSF did not have authorisation under the Central Bank Act to enter into any such agreement and, as a result, a guarantee and indemnity executed by him in December 2022 is void and/or unenforceable.
In other claims, it is alleged McKillen jnr has been wholly or partially discharged from his obligations under the guarantee and indemnity due to material alterations to the facility agreement made without his knowledge or consent, including application of funds received from third parties without his consent and alleged transactions/dealings of which he was unaware.
He is also claiming damages on grounds including the bankruptcy proceedings are an abuse of process and for alleged breach of contract.
Other orders sought include to have the dispute sent to mediation.
McKillen jnr has been the figure behind many of Dublin’s best known entertainment and dining venues over the past 20 years.
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Founded with his schoolfriend Matt Ryan, Press Up grew fast by developing its own restaurants and existing, successful operations, including Elephant & Castle, Wowburger and a number of hotels and cinemas.
At one point, it had more than 2,000 staff across 50 venues, but by September 2024, Cheyne Capital had taken a majority stake in the business, later renaming it Eclective Hospitality Group.
