MURRAY Consultants Ltd and two of its directors are to appeal to the Supreme Court following the rejection of their application to put a stay on proceedings brought by Mr Terence Horgan, the High Court was told yesterday.

Mr Horgan is taking the petition proceedings against the company at Upper Mount Street, Dublin, and two of its directors, Mr Joseph Murray and Mr James Milton. They sought to put a stay on the proceedings relating to the petition brought by Mr Horgan who is, among other reliefs, seeking the payment of the value of his share holding in the company.

Last week in the High Court, Mr Justice Barron in his judgment said he could not accept the submissions made by the two directors. He said they had failed to establish that the petition was an abusive process of court.

Yesterday, Mr Brian Murray, counsel for the company and two directors, asked for a week's adjournment of a motion seeking directions. He said they proposed to appeal to the Supreme Court on the stay motion.

They hoped to mention it in the Supreme Court on Friday. Mr Justice Barron said he would adjourn the matter for a week.