Galway Bay fm newsroom – Two brothers have reached a settlement in a dispute over a company that owns half of the Galway Clinic in Doughiska.
Chicago-based Joesph Sheehan brought the case against his brother James, a consultant obstetrician who is also a shareholder in the Blackrock Clinic in Dublin.
Both brothers own a 50 per cent share in Blackrock Medical Partners Limited.
Blackrock Medical Partners owns a half share in the Galway Clinic in Doughiska.
According to today’s Irish Times, the case opened briefly on Wednesday before being adjourned to allow both sides continue discussions.
Counsel for Joesph Sheehan said a settlement would ‘end a long-running and painful dispute’.
He added that a key element of a settlement involved a valuation of Joesph Sheehan’s shareholding.
The court heard that both brothers initially put forward the same amount of money towards the development of the Galway Clinic and provided guarantees to A.I.B
However, they later encountered difficulties which required more investors, despite the initial plan that the two brothers would be the only two involved in the company.
In the High Court, Justice Donald Binchy adjourned the matter to June 30th to allow for the implementation of the settlement.
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