SOLICITOR IVOR Fitzpatrick and property developer Pat Doherty have settled their long-running High Court dispute over whether there existed a property partnership in connection with British property projects worth an estimated £150 million (€194 million).
The settlement was announced to Mr Justice Brian McGovern at the Commercial Court on Thursday, the 16th day of the hearing of the action which was expected to last eight weeks. Mr Justice McGovern consented to receive and file the terms of settlement but no details of it were disclosed in court.
Mr Fitzpatrick and two fellow partners took the action over the alleged denial or equivocation regarding the existence of the partnership and the breakdown in trust between the parties.
They sought declarations that shares in certain companies, together with various development opportunities, were held for the purposes of the partnership.
They also wanted a receiver appointed over certain assets and orders winding up the affairs of the alleged partnership in light of alleged breaches of the partnership.
The action was brought by Mr Fitzpatrick, Stephen's Green, Dublin, and his partners, Peter Crean, Maynooth Road, Rathcoffey, Co Kildare, and Andrew Kenny, Muirhevna, Dublin Road, Dundalk, Co Louth, against Mr Doherty and his company, Harcourt Developments Ltd.
The case related to an alleged partnership and/or joint venture between the three men and Mr Doherty's Harcourt company in relation to a number of developments in Jersey and London.
