Latest news with #CommercialCourt
Yahoo
a day ago
- Business
- Yahoo
Oliver Kahn pulls out of Bordeaux takeover talks
Oliver Kahn has pulled out his formal bid to take over fourth-tier side Girondins de Bordeaux. The ex-Germany international goalkeeper and his investment partners filed a 'plan de cession' last week with the court-appointed administrators and legal officials handling Bordeaux's ongoing financial crisis under the mandate of owner and club president Gérard Lopez. The submission arrived on the eve of a critical Commercial Court hearing in which the current club leadership would have presented its own proposal aimed at ensuring the club's survival. 'This winter, I decided to consider becoming the new owner of the Girondins de Bordeaux', Kahn wrote in a letter published by Sud Ouest. 'In January 2025, I submitted a formal offer to the current owner, later accompanied by proof of funds, and then presented an offer to the court administrator.' The former Bayern Munich CEO then adds he would not inject the €50m sum he previously committed to his takeover bid in light of the financial, operational and legal information shared with his investment partners. Advertisement 'It is therefore with great disappointment, despite extensive preparatory work and rigorous analysis, that we have made the carefully considered decision not to pursue our takeover plan', Kahn said, extending his thanks to Bordeaux's local authorities and the club's fans. GFFN | Bastien Cheval
Irish Independent
6 days ago
- Business
- Irish Independent
Michael Flatley alleges ‘blatant' level of ‘overcharging' in new row over legal bill in Castlehyde mansion case
Lord of the Dance star Michael Flatley is embroiled in another row in the Commercial Court over a €1.4m disputed costs bill associated with the recent efforts to keep a receiver from the door of his Cork mansion, Castlehyde.
Irish Examiner
6 days ago
- Entertainment
- Irish Examiner
Michael Flatley challenges 'blatant level' of alleged 'overcharging' by receiver in Cork mansion case
Lord of the Dance star Michael Flatley is embroiled in another legal row, this time over a €1.4million disputed costs bill associated with the recent battle to keep a receiver from the door of his Cork mansion Castlehyde. And the entertainer, in an affidavit to the Commercial Court where he is disputing six-figure sums in legal and receiver fees, claimed he was shocked at what he called 'the blatant level' of alleged "overcharging'. Referring to a receiver costs bill of €86,000 plus legal costs of €186,000 Michael Flatley alleged he may be seen "as an easy mark for inflated costs". Also in dispute are €793,000 in legal fees from the opposing side in the Castlehyde receiver battle. In the affidavit to the court the dancing star claimed that there was also an alleged charge for 13 hours allegedly put in by the joint receivers for attendance at the High Court at a combined rate of €1000 an hour. At one stage Mr Flatley also said: "I have no objection to paying fees in general but in circumstances where the fees are exorbitant and mainly unvouched and unjustified and lacking transparency the vouching of the documents sought is in the interests of justice.' The court on Wednesday was considering an application by the Flatley side in which it was seeking certain documents from the Novellus side including the receiver's report, a contemporaneous record of tasks carried out by the receivers and a full breakdown of invoices and timesheets from third-party providers to the receivers. The Flatley side want the documentation as part of their bid to have the court decide in relation to the €1.4million in disputed costs. Mr Flatley's counsel, Ronnie Hudson BL instructed by Maxwell Mooney solicitor, said Michael Flatley has no objection to paying costs, but he needs transparency. "The only motivation of Michael Flatley is to get the money back," counsel said. Case background Counsel for Novellus and the receivers, Kelley Smith SC, said previously all allegations made by the Flatley side were withdrawn and her side was concerned about the motivation behind the latest application. Counsel said it was misconceived and was "more of the same grandstanding". Last March, Mr Flatley paid off a €6.9million loan on his Castlehyde mansion to save it from the receiver. The original legal battle related to a loan made to Mr Flatley's Blackbird Film Productions Ltd by Novellus Finance Ltd with registered offices at St Stephen's Green, Dublin, in 2023 with repayments of €67,000 per month over two years. Novellus claimed there had been default on repayment, which Mr Flatley denied. Mr Flatley provided a guarantee for the loan on the strength of the value of his Castlehyde mansion. As a result of the alleged default, Novellus appointed a receiver over the property. An interim injunction was granted to the Flatley side to prevent the receiver from taking further measures in relation to Castlehyde and a judge conducted a two-day hearing on the matter. The Flatley side asked the court to hold off on giving judgement on whether to set aside the interim injunction stopping the receiver taking steps or grant an interlocutory injunction to the Flatley side and said Mr Flatley was flying into Dublin to pay off the loan. The €6.9m loan was finally paid off but the issue of certain disputed costs remained. Mr Justice Mark Sanfey had reserved his judgement to a later date. Read More Michael Flatley faces new battle over security for costs at Cork's Castlehyde
Irish Times
20-05-2025
- Business
- Irish Times
Landowner and consultant in court dispute over plan for whiskey distillery in north Dublin
A landowner and a consultant are in dispute over plans that were drawn up for a whiskey distillery on a site in north Co Dublin, the Commercial Court heard. James McNally, of Naul, Co Dublin, is the owner of the site in Stephenstown, Balbriggan, which he says he got as an inheritance. He says he has entered into an agreement to sell it to Wyoming, US-registered Harvest Lodge Distilleries LLC. But, he says, the deal has been stalled because the consultant who prepared the drawings and planning application for the distillery, Andrew Cassidy trading as Cassidy Consultants, is claiming to have an interest in the lands. READ MORE This arose, Mr McNally says in an affidavit, out of a 2018 agreement between Mr Cassidy and Harvest Lodge to provide architectural services in relation to a planning application for the whiskey distillery and business campus on the property. Mr McNally says Harvest Lodge paid Mr Cassidy a total of some €650,000. Planning permission was granted in February 2023 with Mr McNally having to provide a letter of consent for planners to say he was the owner of the land. Last March, he says, he reached agreement in principle with Harvest Lodge to sell the property for €11 million with a closing date of this month (May). In April, Mr Cassidy's solicitor asserted an interest in the property on behalf of Mr Cassidy, it was claimed. A fee for his services of €900,000 was claimed along with a claim that a valuation would have to carried out on Mr Cassidy's intellectual property rights in relation to the drawings he prepared for the planning application. On Monday, the Commercial Court heard that the defendant was asserting that he had a 5 per cent entitlement to the value of the development based on his intellectual property rights. Mr McNally denies there is any such right. Mr Justice Mark Sanfey adjourned an application to have the case entered into the fast track commercial list for a week to allow the defendant file an affidavit in response to the entry application. Mr McNally is asking the court for a declaration that the defendant has no legal or equitable interest in the property so that he can proceed with the sale to Harvest Lodge.
Gulf Insider
18-05-2025
- Business
- Gulf Insider
Bahrain: Pharmacy Ordered to Pay BD3,100 Over Unpaid Medical Supplies
A pharmacy has been ordered to pay over BD3,100 to a medical supply firm after the final cheque in a batch of eight wasn't honoured because the amount written in figures didn't match the words. The Commercial Court was told the company, represented by lawyer Somaya Abdulla, had supplied the pharmacy with medicines and equipment worth BD7,559 under a credit arrangement. Seven cheques were paid. The eighth was rejected by the bank due to the mismatch. The pharmacy refused to issue a new one. After repeated attempts to settle the matter were ignored, the supplier took the case to court. To make its case, the company produced the credit agreement, signed and stamped by someone tied to the pharmacy, along with invoices showing what had been supplied. These bore signatures and stamps said to be from people acting for the pharmacy. The court said the documents stacked up and confirmed that the goods had been delivered and received. With BD3,140.767 still unpaid, it ruled in the company's favour. A second defendant had signed the same agreement as guarantor.
