Dispute over merger of the Mercantile/Capital chain of pubs and hotels settled

A dispute over the merger of the Mercantile/Capital chains of pubs, hotels and restaurants in Dublin has been settled, the Commercial Court has heard, writes Ann O'Loughlin.

Publican Frank Gleeson had brought proceedings alleging shareholder oppression in Ardan Advisory Ltd which was formed out of the Mercantile/Capital group merger. The other shareholders in Ardan denied his claims.

Separate proceedings were brought by USA based EMI-MR Investment LLC in which it sought a €4.6m judgment against Mr Gleeson over loans to him in 2016.

Mr Gleeson had opposed EMI-MR Investment's action.

Earlier this month, the court was told both sets of proceedings had been resolved and the matter was adjourned to today to allow for implementation of the settlement.

Today, Mr Justice Brian McGovern was informed by lawyers for both sides that the Gleeson action was being withdrawn and the EMI-MR case was being discontinued.

A third set of separate related proceedings by Mr Gleeson seeking to prevent his dismissal as CEO of Mercantile Entertainment was also struck out on Monday.