A record 97 cases were listed in the Commercial Court yesterday, writes Simon Carswell Finance Correspondent

THE PILE of lever-arch files mounted on the desk of the registrar in the Commercial Court was sufficient to show that this is one of the busiest days in the six-year history of the court.

Managed with extraordinary efficiency by the punctilious Mr Justice Peter Kelly, the court ploughed through 30 new cases involving claims totalling more than €300 million in two hours and 20 minutes. He decided whether they should or should not be granted a place in the court’s list for hearing.

Many passed the court’s test – that they involved a dispute over a commercial enterprise or contract and sums of more than €1 million.

The cases provided a snapshot of the challenging times faced by businesses and reflected the depth of the economic crisis. Many of the business rows related to the collapse in the property market.

A record 97 cases were listed and the court noted in the list that any cases after number 70 would be adjourned until today.

Banks were involved in half of new cases relating to sums of about €10 million, with several reaching €30 million and beyond.

The court was so packed with solicitors, barristers and various interested parties that maintenance staff at the Four Courts adjusted the air conditioning inside court six over lunchtime to reduce the heat in the courtroom.

The fallout from the $65 billion fraud perpetrated by US money manager Bernie Madoff was at the core of four new cases.

In three cases, international finance firms sought access to an account at HSBC relating to sums totalling €54 million.

Soured property deals also featured in many actions before the judge. ACCBank is seeking judgment of €9.2 million against three Longford solicitors practising as Connellan Solicitors, who gave undertakings on a property transaction. The bank could not recoup its money from the borrowers and is pursuing their solicitors on the back of their undertakings given on a property deal in Co Leitrim.

ACC has brought another case against property developers Leo Mohan and Emmet Memery in relation to loans totalling €16.2 million advanced in November 2007 and March 2008.

Counsel for Mr Mohan argued against the listing of the case, saying talks were ongoing between the parties to find a resolution. The judge disagreed, listing the case and saying it would “focus minds” and help bring discussions to a conclusion.

In a later case in which EBS building society is suing three businessmen to recover €31.78 million, the judge expressed frustration that no defence had been entered by one defendant. He said he was not going to set dates in such circumstances as the court’s schedule was “heavily strained”.

In another case, the judge welcomed the decision of developer Michael McManus to accept judgment of €9.2 million against him in favour of KBC Bank for a loan on 57 acres at Meelick, Co Clare, where no defence was entered.

“That is very sensible rather than prolong the agony,” he said.

Procedure dominated proceedings with Mr Justice Kelly pressing counsel about when they could file affidavits, as he sought to ensure paperwork would be on time and in order, expediting resolution of the disputes as quickly as possible.

“This is a court of limited resources and it is put under, on a daily basis, greater and greater strain and I have to be aware of these resources,” said the judge when he refused to list one case.

The owner of a row of terraced properties on Amiens Street in Dublin was suing a demolition firm, a project manager, a structural engineer and an architect over a crack in a gable wall, claiming damages and negligence.

The judge said the plaintiff had failed to outline its case, even though it was now 10 months old. Professionals deserved to know the case against them, he said.

Another case involved Patricia Cullen suing Allied Irish Banks (AIB) over its failure to release security over 26 properties she claims should have been transferred into her name by her estranged husband, developer Bryan Cullen, in settlement of a family law case.

The judge observed that he was more accustomed to banks being plaintiffs, not defendants.

Mr Justice Kelly admitted another case in which Esso Ireland is seeking €4.7 million from HRS, a firm backed by Galway businessmen John Sweeney and Padraic Rhatigan. Their company had failed to complete the purchase of two petrol stations they planned to redevelop in Dublin and Ballina.

George Brady SC, for HRS, argued that the figures represented prices to be paid for properties and not a commercial enterprise meriting entry into the list.

“If that were a transaction between you and me . . . ” Mr Brady began, before being interrupted. “I am not in that league,” said the judge.

Mr Brady replied that some on the bench earned more than legal practitioners. The judge replied he had no evidence of that before him. It was the one light moment in a gruelling caseload yesterday.