Heineken Ireland settles with Nash

A HIGH Court action against Heineken Ireland over alleged breaches of a joint venture agreement, which allegedly resulted in €10 million losses for the Nash drinks company, has been settled.

The proceedings were brought by Hartside Ltd, an Isle of Man-based company, which claimed it and Heineken, then named Murphy Brewery Ireland Ltd, entered into a joint venture agreement with several other parties in November 1996 for the acquisition and ownership of Nash Beverages Ltd.

A number of ancillary agreements were also entered into including a management agreement between Hartside and Heineken and a keg delivery agreement, it was claimed.