Michael Flatley pays €500k for extra cover on Cork mansion to allay receiver concerns

The move came after counsel for the receiver went to court on Wednesday amid concerns about the adequacy of the cover for the Fermoy property

Novellus Finance Ltd which provided the €5.6m loan insists there was default on the loan given to Blackbird Film Productions Ltd and for which Michael Flatley (pictured) provided a guarantee on the strength of the value of his Castlehyde mansion in Fermoy, Co Cork. File photo: Stephen McCarthy/Sportsfile

Lord of the Dance star Michael Flatley has increased the insurance cover on Castlehyde his Co Cork mansion to €10m, the Commercial Court has heard.

The move, which came after the receiver over the Fermoy mansion raised concerns about the adequacy of the insurance on the property, has cost €500,000, his lawyer told the court.