A finance company that funded loans to entities associated with Patrick McKillen jnr is seeking judgment of some €8.7 million against the businessman, the Commercial Court has heard.
Cabriz Finance Ltd, of Riverside Road, Carrickmacross, Co Monaghan, claims Mr McKillen, with an address for communication at Ely Place, Dublin, provided various guarantees and indemnities for four loans to four companies.
The companies – Welltrack Ltd, Yarnway Ltd, Ahlstom Ltd and Dontigo Ltd – defaulted on the loans and Mr McKillen failed to pay the money due despite a demand, Cabriz claims.
The loans and guarantees/indemnities were entered into in December 2022, January 2023 and August 2023, it says. The purpose of the loans was to facilitate the working capital requirements of the companies.
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On Monday, an application on behalf of Cabriz to enter the case into the fast-track Commercial Court was rejected by Mr Justice Mark Sanfey.
The judge said it was a requirement of the commercial list that parties should move with expedition, but in this case there was a default in December 2023, but it was not until April of this year that the demand for payment was made.
There had not been expedition in this case and he would not include it in the commercial list, which means the matter must now go through the normal High Court list.
Earlier this month, the High Court appointed an interim examiner to Workman’s Club Ltd, part of the former Press Up hospitality and entertainment group founded by Mr McKillen jnr and Matthew Ryan.
