A ROW in which some €48 million in damages is being sought from the Irish Agriculture Wholesale Society (IAWS) over alleged “broken commitments” concerning an alleged agreement for development of lands at Tallaght is expected to be mentioned to the Commercial Court on Monday.
Mr Justice Peter Kelly was told this week of settlement talks between the sides and was asked to vacate the July 8th trial date set for the proceedings, but declined to do so, saying the case could be mentioned to him if a settlement was reached.
It is believed the proceedings will now be mentioned before the judge on Monday, when a settlement may be announced.
Varleigh Ltd, a company of developer Bernard McNamara, and James Morrissey, a co-director of Varleigh, brought the case alleging they were wrongfully induced by IAWS, now Aryzta, and Ronan McNamee, founder of Cuisine de France, into entering a contract to buy the Uniphar Pharma site at Tallaght for some €52 million.
They are claiming some €48 million damages over alleged misrepresentation concerning an alleged agreement for development.
On the basis of the alleged misrepresentations, Mr Morrissey claims he guaranteed Varleigh’s liabilities.
The plaintiffs say the site is now valued at some €33.6 million and claim they would not have entered into the purchase contract were it not for representations by the defendants.
They claim the site would be worth up to €117 million had the defendants honoured an alleged agreement on joint planning submissions regarding the Uniphar site and two adjoining sites.
IAWS and Mr McNamee denied the claims and have brought motions to require Varleigh to provide security for legal costs of the proceedings.
They have brought a motion to have Mr Morrissey’s entire claim struck out on grounds it indicates no cause of action.
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