Gleeson to claim Mercantile co-investors oppressed interests

Whelan’s publican alleges he has been forced from chief executive role in Dublin group

Frank Gleeson: embroiled in legal action with EMI-MR, a company linked to his US-based co-investors in Mercantile, Michael Breslin and Maurice Regan

Frank Gleeson: embroiled in legal action with EMI-MR, a company linked to his US-based co-investors in Mercantile, Michael Breslin and Maurice Regan

 

Whelan’s publican Frank Gleeson is expected on Monday to try and widen his dispute with his co-investors in the Mercantile group by accusing them of “oppression” of his minority interests.

Mr Gleeson, who was chief executive of the group of 12 Dublin city outlets, is embroiled in legal action with EMI-MR, a company linked to his US-based co-investors in Mercantile, Michael Breslin and Maurice Regan.

Mercantile’s investors also include Danu, the investment group of the Setanta Sports founders Mickey O’Rourke and Leonard Ryan, who are not party to any of the legal actions.

Mr Gleeson is being sued for summary judgment by EMI-MR over a finance deal related to the merger a year ago of Gleeson’s Mercantile and the US investor-backed Capital Bars group.

The publican alleges he has been forced out of his role as chief executive of the group following a series of splits over financial and operational matters. EMI has sought repayment of loans advanced to Mr Gleeson, while the two sides haggle overa price to buy out his near one-third stake in the group.

Mr Gleeson is expected tomorrow to argue that his interests have been oppressed by his co-shareholders under corporate laws, a claim they have already denied.

The case is up for mention in the High Court on Monday morning.