Bitter legal disputes between the three co-founders of Web Summit – Paddy Cosgrave, Daire Hickey, and David Kelly – are set to be resolved in a nine-week civil trial beginning on March 18th. Concerns have been raised by legal teams representing Hickey and Kelly regarding the time constraints, arguing that nine weeks may not be sufficient to adequately present their cases.
A nine-week civil trial is scheduled to begin on March 18th to address the bitter disputes between the three Web Summit co-founders. Despite concerns raised by two of the men’s legal teams that the time frame might be too restrictive, a High Court judge stated that this duration should be sufficient to facilitate the hearing of the cases.
The five cases – taken by Daire Hickey and David Kelly against Web Summit chief executive Paddy Cosgrave, and by Mr Cosgrave against Mr Kelly – are set to be heard together. Kelley Smith SC, representing Mr Hickey, characterized Mr Cosgrave’s senior counsel Bernard Dunleavy’s opposition to extending the nine-week trial time as “self-serving” and his suggestion that lawyers “cut their cloth” and focus on the strongest points of their arguments at the hearing as an attempt to “confine the case”. She argued that this approach would undermine her ability to present a significant legal argument regarding Mr Cosgrave’s alleged “egregious” conduct during the trial and potentially limit her ability to cross-examine witnesses effectively. Frank Kennedy BL, representing Mr Kelly, echoed Ms Smith’s concerns, stating that an insufficient time frame would greatly benefit Mr Cosgrave and Web Summit if their clients were unable to fully advance their cases. Mr Kennedy requested that the time allotted for the hearings be extended to 12 weeks. Mr Dunleavy countered by arguing that there should be a limit to the court time dedicated to “a row of this nature” and pointed out that the three individuals involved are “extremely wealthy individuals”. In the actions, Mr Kelly, a 12 percent shareholder in the tech events firm, and Mr Hickey, who holds a 7 percent stake, are suing Web Summit holding company, Manders Terrace, and 81 percent shareholder Mr Cosgrave, alleging they are oppressed as minority shareholders. They are also suing Mr Cosgrave in separate cases alleging a breach of a profit-share agreement, while Mr Cosgrave has a separate case against Mr Kelly for alleged breach of fiduciary duties. Mr Justice Twomey stated that nine weeks should be enough time for the trial, describing it as “a dispute between three individuals…akin to a quasi partnership dispute”. He cited several reasons for his decision, including the possibility of not calling all witnesses as the trial progresses, the trial’s focus on “one or two issues”, and the acceptance by Mr Cosgrave’s legal team of an invitation from Mr Hickey’s lawyers to enter mediation before the trial begins. The judge emphasized that mediation has the potential to settle proceedings entirely or narrow the disputed issues before trial. The court heard that both parties agree that for mediation to be effective, Mr Kelly should also be involved. Mr Kennedy stated that Mr Kelly is yet to take a definitive position on mediation. Mr Justice Twomey expressed confidence that suitable mediators operating within this jurisdiction could be found, noting Ms Smith’s earlier concerns regarding Mr Cosgrave’s solicitor’s suggestion to appoint mediators “absolutely divorced” from the case. Ms Smith found it “peculiar” that no legal professional in Ireland would be considered suitable to mediate between the parties, deeming it “somewhat unusual” to seek a mediator from another jurisdiction
BUSINESS DISPUTES WEB SUMMIT CO-FOUNDERS LAWSUIT TRIAL
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