Clinic shareholders lose €2.4m order

Two of the main shareholders in Dublin’s Blackrock Clinic have lost a bid to prevent summary judgment against them for €2.4m over the financing of their effort to buy out loans with Irish Bank Resolution Corporation (IBRC).

Talos Capital Ltd sought the order against Joseph Sheehan and John Flynn over what it claimed was “material” default on a loan agreement.

Yesterday, the High Court ruled Talos was entitled to the order but adjourned entering judgment for a week to allow the men seek a stay on the decision, pending appeal.