Courts / Dublin / Report
Actions over collapse of Dolphin Trust resolved
Summary
The Commercial Court heard that several legal actions over the collapse of German property firm Dolphin Trust have been resolved. No settlement details were disclosed. Dolphin, founded by Charles Smethurst, had raised €650m‑€1bn from investors in the UK, Russia, South Korea, France and Ireland, investing in listed German buildings. Dolphin MUT 116 and MUT 103 were the Irish investment vehicles for pension and individual investors. Liquidators Shane McCarthy, Ian Barrett (MUT 116) and Myles Kirby (MUT 103) had alleged misrepresentations and breaches by parties linked to Dolphin. John Lavelle BL informed the court that his clients had settled actions against several defendants. Proceedings against the estate of the late Paul Dunne were struck out; cases against Wealth Options Trust, Wealth Options Capital, Brian Flynn and Eanna McCloskey were adjourned with a possibility of re‑entry. Actions against Charles Smethurst remain live and will be addressed later this year.
Who, what, where, when and why
What: Report matter: Actions over collapse of Dolphin Trust resolved. Procedural stage: hearing_or_decision
When:
- October 2020 Other
- 2023-11-10 Publication
Case subjects
Applicant
Defendant
Outcome: Counsel said that it had also been agreed that proceedings against other defendants could be adjourned generally.
Places mentioned
Topics
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