Modus directors face High Court claim by Anglo Irish

A claim has been issued by a subsidiary of Anglo Irish Bank against Brendan Flood and Mike Riddell, former Modus Ventures directors, relating to loans of £35m.

The writ, filed by Anglo Irish Asset Finance, relates to Houndshill shopping centre in Blackpool and Trinity Walk in Wakefield. AIB was the lead lender in both projects.

Manchester-based Modus Ventures was placed into administration on 29 May. KPMG Restructuring was appointed administrator.

The claim by AIB was filed on 23 September.

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