Altada liquidator has ‘significant concerns’ around €500k loan

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Altada liquidator has ‘significant concerns’ around €500k loan
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John Healy’s affidavit claims a secret ‘board meeting’ was held at the AI company to discuss a €500k emergency loan, which shareholders weren’t told about for two months

On the morning of Friday September 9 last year, an “extraordinary” series of events are alleged to have occurred at board level in Altada, the Cork-based tech firm.

At 9.15am that morning, a board meeting of the AI-focused company is alleged to have taken place that was attended by Allan Beechinor, the co-chief executive and founder, Martin O’Brien, the company’s chief financial officer, and Alan Merriman, the founder of investment fund Elkstone, which was a ...

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