Dispute over Mean Fiddler sale resolved after payment

A legal action to compel a company involving promoter Denis Desmond, to pay £5.3 million (€6.2m) relating to a deal for acquisition of the Mean Fiddler Music Group has been almost fully resolved after a bank draft for that amount was received last Friday.

The proceedings by Blue Hawk Ltd, an Isle of Man incorporated company, against Gaiety Investments, an unlimited liability company with registered offices at Harmony Row, Dublin 2, were before the Commercial Court yesterday via an application to have the latter firm admitted to the court’s list.

However, Denis McDonald SC, for Blue Hawk, said his side had received a bank draft last Friday for the £5.3m due. Counsel said the only issues outstanding were related to interest and costs and he asked that the case be admitted and adjourned for a week to see if those issues could be resolved.