Frank Gleeson merger dispute proceedings withdrawn

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Lawyers told Mr Justice Brian McGovern in the Commercial Court on 29 May 2017 that Frank Gleeson’s merger dispute action was being withdrawn and a related EMI-MR Investment case was being discontinued. Separate proceedings brought by Gleeson to prevent his dismissal as chief executive of Mercantile Entertainment were also struck out that day.

The dispute concerned the merger of Dublin’s Mercantile and Capital chains of pubs, hotels and restaurants. Gleeson had alleged shareholder oppression in Ardan Advisory Ltd, which was formed from the merger. The other shareholders denied his claims.

EMI-MR Investment LLC had separately sought a €4.6m judgment against Gleeson over loans made to him in 2016. Gleeson opposed the action. Earlier in May, the court had been told that both sets of proceedings were resolved and had adjourned them to allow the settlement to be implemented.