The High Court has heard that a loss of business at the Regency Hotel since last month’s gangland murder could threaten the livelihood of its workers.

A boxing weigh-in at the Dublin hotel was the scene of a shooting that claimed the life of David Byrne and injured two others.

In the six weeks since an armed gang stormed the Regency Hotel, its owner James McGettigan says business have suffered with the loss of various GAA and rugby events as well as St Patrick's Day festivities.

In a sworn statement read out in court today, he said the “immense damage to its reputation” had put a strain on its cash reserves – a strain that could result in his staff being put on protective notice.

Mr McGettigan has already made a claim with Aviva Insurance for just over €217,000 for loss of earnings and costs incurred as a result of the shooting.

He has accused the insurer of not giving him a definitive response to this claim. Without compensation, he’s warned the three-star 260-room hotel may have to cease trading.

His case has been put back until next month.