Man begins legal action seeking €8m in profits

A MAN who claims he is a director of a substantial property development company has begun a legal action alleging he is entitled to at least an €8 million share of the profits of the company, including all future profits.

The action by Colm Lundy against Newlyn Development Ltd and two directors of that company — Robert Kehoe, of Oakley Road, Ranelagh, Dublin, and George McGarry, Sandcroft Lodge, Royal Marine Park, Bray, Co Wicklow — was entered into the list of the Commercial Court yesterday by Mr Justice Peter Kelly.

The judge noted the company is a very successful property developer, with a large number of projects at locations including Carrickmines, Rathfarnham, Coolock and Montague Lane in Dublin; Kilpeddar and Blessington, Co Wicklow; and an office block in Brussels.