Insurance put in place by former Riverdance star Michael Flatley on Castlehyde, his Co Cork mansion, is inadequate for an unoccupied property in a rural setting that has previously been subject to a fire, the Commerical Court has been told. Novellus, a Dublin-based property and bridging finance lender, has appointed receivers to take control of the property, which sits on a 150-acre estate near Fermoy after a company linked to Flatley allegedly defaulted on a €5.7 million refinancing loan guaranteed by the entertainer. The lender has a registered charge against Blackbird Film Productions, which was used as a vehicle for…

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