Settlement talks ongoing between lawyers for former La Stampa owner Louis Murray and receiver

Talks between lawyers for former La Stampa restaurant owner and those for a bank and a receiver have achieved a "conditional basis for a settlement" of the dispute between them, the High Court has heard.

Louis Murray and his company, Balieboro Spring Water, in receivership, are suing AIB and a receiver over an alleged breach of an agreement for the consensual sale of two Dawson Street, Dublin, properties which housed the restaurant, a hotel, and a bar.

The sale was intended to deal with a €19.8m debt to AIB which appointed receiver Declan McDonald in 2014 and who later sold the properties for €17.5m.

The defendants deny there was any such consensual agreement.

Last Friday, the case was adjourned to allow Mr Murray, who was under continuing cross-examination, to look at some documents.

Talks began and the case was adjourned again to today, when Lyndon MacCann SC, for the defendants said the time had been "put to good use".

On a conditional basis, counsel said, there were terms of settlement subject to conditions. It was also subject to Mr Murray's counsel, John Fitzgerald, obtaining instructions from his client.

In those circumstances, Mr MacCann asked for a further adjournment to Wednesday, which Mr Justice David Barniville agreed to.