AN attempt to defer one part of legal proceedings being taken by Mr Terence Horgan against other directors of Murray Consultants Ltd, Mr Joseph Murray and Mr James Milton, began in the High Court yesterday.
The motion to stay the proceedings relates to a petition brought by Mr Horgan who is, among other reliefs, seeking the payment of the value of his shareholding in the company. The case will continue before Mr Justice Barron next Friday.
Yesterday Mr Paul Gallagher SC, for Mr Murray and Mr Milton and the company, said the company started in 1974 in the name of Nocrumb Ltd and was transferred to Murray Consultants Ltd, Upper Mount Street, Dublin, in December 1992.
Mr Horgan was seeking orders restraining them from implementing a strategic business plan, a development plan or taking steps to acquire new premises. He was also looking for an injunction restraining the company from dealing with the assets. He was seeking another order to restore the management business to operating on a partnership basis.
The petitioner had accepted that the relationship between himself and the other two directors had broken down. Mr Gallagher said they were prepared to have Mr Horgan's shares valued by an independent accountant as envisaged in the procedures in the Articles of Association. They were prepared to purchase his shares at the price fixed by that procedure.
Mr Horgan claimed that relations broke down in December 1994 and alleged that between then and now various decisions had been taken concerning the affairs of the company without reference to him or that he disagreed with the decisions.
Mr Gallagher said Mr Murray and Mr Milton claimed the conduct of Mr Horgan had adversely affected the value of the company. Mr Horgan was also taking other legal proceedings relating to the partnership.
They wanted a stay on the petition proceedings as they claimed it was an abuse of the process of court. If the shares were bought out, then the primary relief was obtained by Mr Horgan, Mr Gallagher said.
The hearing was adjourned.
