Courts / Ireland / Report
Talks continuing over possible Web Summit settlement
Summary
The High Court civil trials involving three former Web Summit directors were adjourned to allow settlement talks. The court was set to hear evidence from former director Daire Hickey, but proceedings were postponed as lawyers and parties negotiated outside Court 29. Barrister Michael Cush SC, representing former director David Kelly, informed Justice Michael Twomey that negotiations had not yet succeeded but that time had not been wasted. Justice Twomey adjourned the case until 2 pm. Paddy Cosgrave, majority shareholder, is suing Kelly for alleged breaches of fiduciary duties, while Kelly and Hickey, who hold 12 % and 7 % of shares respectively, sue Cosgrave for shareholder oppression and breach of a profit‑sharing agreement. The judge urged the parties to resolve their differences, warning that a prolonged litigation could lead to appeals and a final judgment that might not satisfy any of them. The case, which opened last week, was scheduled to run for nine weeks.
Who, what, where, when and why
What: Report matter: Talks continuing over possible Web Summit settlement. Procedural stage: hearing_or_decision
When:
- 2025-03-26 Publication
Case subjects
Applicant
Applicant
Outcome: Web Summit have been adjourned until this afternoon to allow talks to continue between the parties over a possible settlement.
Places mentioned
- High Court
- Supreme Court
Topics
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