Courts / Ireland / Report
Judge quotes Voltaire and urges resolution in Web Summit case
Summary
In the High Court, Mr Justice Michael Twomey urged the three co-founders of Web Summit to resolve their disputes rather than proceed with litigation, citing the personal costs involved. The proceedings, which opened last Tuesday and are scheduled for nine weeks, involve five separate actions. Daire Hickey, holding 7% of shares, and Dara Kelly, holding 12%, are suing majority shareholder Paddy Cosgrave for alleged shareholder oppression and breaches of a profit-sharing agreement. Conversely, Mr Cosgrave is suing Mr Kelly for alleged breaches of fiduciary duties as a director. During opening statements, counsel Bernard Dunleavy SC, representing Mr Cosgrave, alleged that the actions by Mr Hickey and Mr Kelly were driven by greed and an attempt to avoid a discount on potential share sales, claiming they "betrayed this business." Following the judge's remarks, Mr Dunleavy reported a "positive level of engagement" and "progress" in the case. He requested an adjournment to allow parties to consider the judge's comments. Mr Justice Twomey subsequently adjourned the case until 11am the following morning. The matter was adjourned and not concluded.
Who, what, where, when and why
What: Report matter: Judge quotes Voltaire and urges resolution in Web Summit case. Procedural stage: hearing_or_decision
When:
- 2025-03-25 Publication
Case subjects
Defendant
Outcome: Mr Dunleavy said that if matters were to be adjourned so that all parties would be facilitated by the remainder of the afternoon, then this would be "extremely helpful".
Applicant
Outcome: Mr Dunleavy said that if matters were to be adjourned so that all parties would be facilitated by the remainder of the afternoon, then this would be "extremely helpful".
Applicant
Outcome: Mr Dunleavy said that if matters were to be adjourned so that all parties would be facilitated by the remainder of the afternoon, then this would be "extremely helpful".
Places mentioned
- High Court
- Supreme Court
Topics
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