The promoters are suing Liberty Syndicate Management Ltd., and other defendants for the losses occured.
The gig was cancelled at relatively short notice, with the singer pleading nervous exhaustion. The cancellation proved to be a major blow to the status of Slane as a festival venue.
No major artist could be enticed there to headline in 2006, with the two year hiatus threatening to make it all the more difficult to re-establish what had been an annual fixture in the rock calendar for a number of years, against the increasing opposition represented by both Oxegen and the Electric Picnic festival, both of which went from strength to strength this year.
The case taken by MCD is against the event insurers and has been accepted into the Commercial Court by Justice Peter Kelly, who presides over the commercial list.
Correspondence has been ongoing between the parties since February 2006. Proceedings were issued early in August and the case was accepted into the commercial list this week.

The grounds for the refusal by the underwriters to make good the MCD claim are unclear. Neither Slane Castle nor Lord Henry Mountcharles are party to the action. Liberty Sydicates is a wholly owned subsidiary of Liberty Mutual, with the group's underwriting being handled through Liberty International. "The Lloyd's Syndicates and London are an integral part of the Liberty Mutual Group," the company's website states.

Lord Henry Mountcharles, the owner of Slane Castle, is himself a Lloyd's underwriter. The underwriter named on the Liberty Syndicate Management Ltd website is Thomas Rokeby Conyngham Corfield. Henry Mountcharles was originally Henry Conyngham and is heir to the title Marquess Conyngham.
"The present head of the Conyngham family is the seventh Marquess Conyngham. Slane Castle is currently occupied by his eldest son, the Earl of Mount Charles," according to the Slane Castle entry on Wikipaedia, the free internet encyclopaedia.