Courts / Dublin / Report
Complex row over property company admitted to fast-track list
Summary
A dispute between minority shareholder Fulman Holdings SARL and the directors of Oviedo Ltd, a company with significant commercial property interests at Dublin Citywest Campus, has been admitted to the fast‑track Commercial Court list. Fulman, which owns 33.6% of Oviedo, alleges that the board, comprising Brendan Hickey, Hugh Lynn, James Brian Davy, Kyran McLaughlin and Martin Naughton, has acted oppressively, ignored shareholder rights, refused to answer questions about the company's business and assets, and denied an independent valuation. The action also names Davycrest Nominees, Lusaro Management Ltd, Neil Naughton, Fiona Naughton and Claire Hickey, though no wrongdoing is alleged against them. Fulman claims that non‑cash assets, business and about 30 subsidiaries of DHP were transferred to Oviedo in December 2020, valuing the business at roughly €39 million, but asserts the true value is higher. Fulman has offered an €80 million bid for Oviedo's assets to obtain information and has expressed concern over proposed asset sales.
Who, what, where, when and why
What: Report matter: Complex row over property company admitted to fast-track list. Procedural stage: hearing_or_decision
When:
- December 2020 Hearing Or Sentence
- 2021-05-17 Publication
Case subjects
Applicant
Outcome: After considering submissions from the various sides, the judge adjourned the case to a date next month.
Applicant
Outcome: After considering submissions from the various sides, the judge adjourned the case to a date next month.
Applicant
Outcome: After considering submissions from the various sides, the judge adjourned the case to a date next month.
Applicant
Outcome: After considering submissions from the various sides, the judge adjourned the case to a date next month.
Places mentioned
Topics
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