O’Reilly’s INM payoff case settled

A High Court action by a non-executive director of Independent News and Media (INM) over a €1.87m exit payment to the company’s former CEO, Gavin O’Reilly, has been settled.

Mr Justice Brian McGovern, who came to the bench yesterday with a prepared judgment in the action brought by Paul Connolly, was told the matter had been resolved on Thursday.

Mr Connolly had sought a declaration that the payment to Mr O’Reilly was unlawful. The case was heard over three days last month before Mr Justice McGovern reserved his decision. The judge was due to give that decision yesterday when counsel for INM said the matter had been resolved.