Press Up Sues FBD Insurance, Axa And Arachas Corporate Brokers
Irish pub, restaurant and hotel group Press Up Entertainment is suing FBD Insurance, Axa and Arachas Corporate Brokers Ltd over an alleged refusal to honour business interruption insurance.
The news follows last week's revelation that Press Up had taken legal against RSA Insurance over business interruption insurance.
According to The Irish Times, The Workman's Club of Dublin trading as Mary's Bar/Wowburger is suing FBD and Brushfield Ltd trading as The Clarence Hotel Dublin is suing Axa, and both are suing Arachas, which provided advice on the insurance policy.
Press Up is the parent company of both The Workman's Club and The Clarence.
Mr Justice David Barniville admitted the case to the High Court's fast-track commercial list on Monday June 15 on consent between the parties.
Press Up chief financial officer Patrick Donovan said in affidavits that The Workman's Club is entitled to be indemnified for financial losses exceeding a little more than €1 million while Brushfield is entitled to be indemnified for €1.3 million.
Press Up wants a declaration confirming its entitlement to these indemnities, or, alternatively, it is seeking damages in lieu of these indemnities.
The making of directions on how The Workman's Club case should proceed has been adjourned pending an application in July for a stay on the case pending arbitration.
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