BURNLEY FC director Brendan Flood is set for a £250million High Court showdown next month with a bank that helped finance part of his property empire.

The Clarets mogul, along with former business partner Mike Riddell, will face up against barristers representing Anglo Irish Bank after the two parties filed claims against each other.

The Lancashire Telegraph revealed last year how Mr Flood filed a £250million writ against the bank following the collapse of his property developments.

The bank, which had to be bailed out by the Irish government in 2009, financed some of the shopping centres built by Mr Flood’s Modus Ventures firm.

He claims that Anglo Irish misrepresented its financial situation by offering to finance the Trinity Walk shopping centre, in Wakefield, in 2007.

But Mr Flood’s writ follows action taken by Anglo Irish last year.

The bank filed a £35million claim for monies lost when the Wakefield scheme, along with the Houndshill shopping centre, in Blackpool, collapsed.

Now the two cases will be heard together next month at London’s High Court.

It is understood that the preliminary hearing will lead to a date being set for a trial – but that could be in 2011. A source close to the case said: “The purpose of the hearing is that between the lawyers and the judge they can throw certain things out.”

The two claims come after Mr Flood’s Modus Ventures, a holding company for smaller subsidiaries, was placed into administration last year.

Mr Flood had sought to restructure Modus Ventures in April in a bid to ride out the recession.

However, just two months later, the firm, along with around 40 subsidiaries, was in administration with Manchester-based KPMG.

Most of the failed companies were involved in property, including the ones behind failed shopping centre schemes in Blackpool, Wigan and Wakefield.

Anglo Irish Bank refused to comment.

Mr Flood was unavailable for comment.