The High Court has reserved judgment on an action by businessman Harry Crosbie’s Point Village Developments company against Dunnes Stores over its failure to fit out an anchor store at Dublin’s Point Village.

The case arises from agreements entered into in February 2008 between Dunnes and Point Village Developments (PVD) for the building and operation of a flagship store at the site.

The agreements originally involved Dunnes paying €46 million, plus VAT, for certain works but disputes later arose between the parties. A settlement agreement entered into in July 2010 effected variations to the original agreement including the €46 million sum being reduced to €31 million.

Since then, the parties have disagreed over the interpretation of the part of the 2010 settlement relating to the starting date of the fitting out of the anchor store. PVD has asked the court to order Dunnes to specifically perform the part of the settlement agreement that relates to the fitting-out while Dunnes denies it has failed to abide by the terms of the agreement.