ESB facing 387 lawsuits over 2009 Cork flooding

The law suits were raised following a High Court ruling in October 2015 which held ESB substantially liable for millions of euro of damage to University College Cork buildings.

Mr Justice Max Barrett ruled in October 2015 that ESB was 60 per cent liable for extensive damage to several low-level buildings that had been built on the flood plain of the River Lee by UCC.

The university, which brought a €19 million claim on behalf of its insurer Aviva, maintained that the power company caused flooding by releasing water from two hydroelectric dams following heavy rainfall in November 2009.

The extent of the legal actions is revealed in ESB bondholder documents, recently approved by the Central Bank of Ireland and seen by The Irish Times.

The utilities company is confident of winning an appeal which it expects to take place in October

The ESB prospectus reports: “In addition to the Aviva/ UCC claim, ESB has, since the judgment in the UCC case, been served with 387 sets of additional proceedings relating to the 2009 flooding events. Details of amounts claimed in relation to these proceedings have not yet been received and therefore, in the event that the Court of Appeal finds against ESB, it is not possible to make a reliable estimate of ESB’s likely financial exposure.”