Morgan O’Sullivan and James Flynn resolve €50m claim

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

The High Court was told on 29 June 2020 that a claim against film producers Morgan O’Sullivan and James Flynn had been resolved after mediation. Ms Justice Teresa Pilkington heard that Berlin-based W2 Filmproduktion Vertriebs GmbH had alleged that €40m–€50m was diverted from Octagon Films Ltd to the producers or companies they controlled. Both producers strongly denied the allegations.

Counsel for W2 said the producers had agreed to purchase its shares in Octagon by specified dates. Counsel for the producers said they consented to the settlement, would retain control of Octagon and that the proceedings could be struck out on consent. No other settlement details, which were understood to be confidential, were disclosed in open court.