Aircraft leasing group may take claim against former executives

Aircraft lessor Stellwagen said on Wednesday that it may take a claim for substantial damages against three former executives, Howard Millar, Edward Hansom and Edward Coughlan.

Stellwagen recently got temporary High Court orders barring Mr Millar, its former chief operating officer, and executives Mr Hansom and Mr Coughlan, from disclosing company information to others and from interfering in its relationship with clients, investors, staff or commercial partners.

Those orders were lifted on Wednesday after the three businessmen gave the company a number of undertakings. The court had adjourned a hearing the previous day to allow talks between the parties to get under way.

Stellwagen said that it may take a substantial claim for damages against its former executives.

The case is expected to return to court following certain disclosures and forensic investigations that are to take place on foot of the undertakings given by the men.

The company’s chief executive, Douglas Brennan, alleged that Mr Millar, previously Ryanair’s chief financial officer, Mr Hansom and Mr Coughlan, attempted to divert valuable business away from the company in direct conflict with their legal obligations.

The three men, who resigned from the company on September 4th, deny the claims. Court documents indicate that Mr Millar maintains that the company constructively dismissed him.

Mr Brennan’s affidavit stated that the company discovered evidence on a laptop used by Mr Coughlan that the three intended setting up a rival operation.