Two court cases over the Mercantile pub group's merger are settled - but one still remains
The group of hotels and bars includes many of Dublin’s best-known haunts.
COMMERCIAL COURT PROCEEDINGS involving publican Frank Gleeson and a dispute over the merger of the Mercantile/Capital chains of Dublin pubs, hotels and restaurants have been resolved.
Gleeson had brought proceedings alleging shareholder oppression in Ardan Advisory, which was formed out of the merger. The other shareholders in Ardan denied his claims.
The second set of related proceedings were brought by USA based EMI-MR Investment LLC, which sought a €4.6 million judgment against Gleeson over loans extended to him in 2016.
The loans, the court previously heard, were to fund the refinance/purchase of the Bottom of the Hill pub in Finglas, Dublin, and Gleeson’s pub of Mulhuddart, Dublin, as well as to enable him purchase shares and to pay legacy trade creditors. Gleeson had opposed EMI-MR Investment’s action.
Both cases were due before the courts next week. However today the court heard the two sets of commercial court proceedings had been resolved.
No details of the settlement arrangement, which will be finalised in court later this month, were given.
Related proceedings
Separate, but related proceedings, brought by Gleeson and aimed at preventing the Mercantile Entertainment Group from taking steps to dismiss him from his role as that firm’s CEO, remain pending before the High Court.
Last month Gleeson secured a temporary injunction preventing the company from either dismissing him or from continuing with a disciplinary process against him.
The Mercantile group, which includes the Mercantile on Dame Street, the Green Hen in Exchequer Street and Whelans of Wexford Street, merged with Capital Bars in 2015.
Capital included Cafe en Seine in Dawson Street and the George in George’s Street.
Under the merger, Gleeson said he held a 30% shareholding Ardan Advisory, of which the Mercantile Entertainment Group is a wholly owned subsidiary.
The remaining 70% is owned by JT Magen (Capital Bars) LLC and Danu Advisory Partners.
