A financial services company which has been restrained by the High Court from taking any steps in relation to the employment and shares of one of its advisers says it has a robust defence to the action.
Michael Hoare (62), who set up Mentor Financial Services Ltd in 2002, claims that weeks after signing a shareholders’ agreement with five others to expand the business, the others began trying to make his position in the company untenable in order to force him to resign.
Last week, his lawyers were granted interim ex parte injunctions requiring the other shareholders – Elizabeth Lavin, Darren Nolan, John Flynn, Daniel McKeown and Adam Penrose, as well as the company itself – to continue to pay Hoare’s salary pending resolution of the dispute or further order of the court.
The court heard that following conflicts between Hoare and other shareholders, he was told on April 17th that he should leave the firm. He brought proceedings and the case was adjourned to Tuesday to hear from the other side.
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On Tuesday, barrister Roger Pope said his client denied the claims by Hoare and he required time to put in an affidavit which will robustly defend the case.
Judge Brian Cregan agreed to adjourn the case to next month.
