Michael Flatley borrowed to fund ‘Monaco millionaire’ life-style, courtroom hears

Michael Flatley has been dwelling the “lifestyle of a Monaco millionaire” by borrowing cash, and has an “insatiable appetite” for “lifestyle cash”, a courtroom in Belfast has heard.

Lawyers representing Flatley within the struggle to clear an interim injunction mentioned he had secured half 1,000,000 euros “overnight” to finish his settlement with the corporate blocking him from participating with the stage present The Lord Of The Dance.

The Irish conventional dancer and choreographer rose to worldwide prominence performing Riverdance at Eurovision in 1994, earlier than occurring to create the stage present The Lord Of The Dance.

The manufacturing’s thirtieth anniversary tour is because of play in Dublin’s 3 Arena on February fifth, persevering with in 2026 in numerous international locations together with the UK, Germany, Croatia, Slovakia and the Czech Republic.

Switzer Consulting is taking authorized motion in a civil case towards the choreographer and dancer for alleged breach of contract, referring to an settlement the agency says was reached to permit it to run the dance exhibits.

Switzer has already secured a short lived injunction to cease Flatley from interfering with the exhibits, with the dancer’s attorneys having argued beforehand the efficiency was in peril of “falling apart” with out his involvement.

At The Chancery Court within the Royal Courts of Justice in Belfast on Wednesday, Gary McHugh KC, for Switzer, argued the injunction was vital to guard Switzer’s pursuits as a result of Flatley’s monetary state of affairs would have left him unable to pay damages.

The authorized dispute hinges on a phrases of service settlement below which Flatley transferred mental property rights for Lord Of The Dance to Switzer, they usually in flip have been then required to supply enterprise administration providers to Flatley, reminiscent of accounts and payroll.

For this, Flatley agreed to pay the corporate £35,000 per thirty days for the primary 24 months, rising to £40,000 a month thereafter.

Mr McHugh learn an announcement by Flatley’s former monetary advisor Des Walsh, who mentioned the dancer “knows why he finds himself in this position”.

He mentioned that Flatley “has lived the lifestyle of a Monaco millionaire” by borrowing cash “as he did not even have the minimum cash required to open a residency package”.

“At the time, Michael was advised that he should not move into that wealth circle as he simply did not have the resources,” the assertion learn.

“Michael ignored this advice and has essentially maintained this facade of wealth using other people’s monies ever since.”

The courtroom heard this was exacerbated by Flatley’s “horrendous business mistakes, which cost him millions of additional borrowings”, at a time when “he had no income and was running out of room financially”.

Mr Walsh’s assertion added that “as an alternative of reining in his spending, adjusting his lifetime prices and reducing his fabric to swimsuit his measure, Michael merely borrowed extra money from extra folks.

“It was all about picture.

“All of this borrowing was used to keep up a pretence of wealth.

“Michael would borrow money from anyone he could, and constantly put pressure on everyone looking for cash.”

His affidavit additionally claimed Flatley’s “appetite for lifestyle cash was insatiable”, and he borrowed €75,000 for a celebration and €50,000 to hitch the Monaco Yacht Club.

David Dunlop KC, representing Flatley, pushed again on the claims that Flatley “was a poor manager of his own affairs and was a man with substantial debts”, saying “ad hominem” assaults had been made on his character.

Mr Dunlop argued that Switzer’s entitlement is proscribed to a payment of £420,000 for the 60 remaining months of its phrases of service settlement with Flatley.

He mentioned that “overnight” Flatley had cleared €500,000 that was being held by a solicitor in Dublin that may pay for damages to finish the contract with Switzer.

“While many averments were made about Mr Flatley’s financial affairs the proof is in the pudding,” he mentioned.

“He is the one who’s managed to generate and has made obtainable half 1,000,000 kilos.

“It’s not Mr Flatley who has the financial difficulties in this case, it is the plaintiff.”

Asserting that Switzer’s arguments had not addressed the “legal core” of the case, Mr Dunlop added: “To use a football metaphor, they attacked the player not the ball.”

Mr Dunlop additional pushed again on claims made by Switzer’s authorized crew that the monetary preparations within the contract have been basically to guard the Lord Of The Dance from Flatley’s monetary fame.

He informed the courtroom: “Ultimately, if there’s harm induced to the operation of the Lord Of The Dance when Mr Flatley is enterprise it, properly it’s his property.

“If it suffers loss that’s actually his downside.

“However, if he’s proper, and Switzer is a very untrustworthy agent in whom he has misplaced all belief in any way for the following 12 months or thereabout,s it can management the mental property.

“It might do untold harm to Mr Flatley’s mental property.

“It has no incentive to retain the worth of the mental property as a result of it’s solely entitled to be paid a service payment.

“So Switzer has no skin in the game, really order to protect the Lord Of The Dance.”

The judgment within the case will likely be heard on Thursday.