Thursday 14 December 2017

Publican Gleeson keeps Marcel's as row ends

Publican Frank Gleeson will hold onto three properties, including well-known Dublin restaurant Marcel's, following a bitter High Court row which arose following the merger of the Mercantile/Capital chains of Dublin pubs, hotels and restaurants.
Publican Frank Gleeson will hold onto three properties, including well-known Dublin restaurant Marcel's, following a bitter High Court row which arose following the merger of the Mercantile/Capital chains of Dublin pubs, hotels and restaurants.
Dearbhail McDonald

Dearbhail McDonald

Publican Frank Gleeson will hold onto three properties, including well-known Dublin restaurant Marcel's, following a bitter High Court row which arose following the merger of the Mercantile/Capital chains of Dublin pubs, hotels and restaurants.

Gleeson's adversaries in one of the disputes included Danu Partners, the investment firm run by the co-founders of Setanta Sports, Leonard Ryan, Mark O'Meara, and Michael O'Rourke.

It, along with Gleeson and a firm called JT Magen (Capital Bars) LLC, are the shareholders in Ardan Advisory - the company behind the newly-merged Mercantile entity. An extraordinary list of claims and counter-claims were aired.

These included claims by Gleeson that Patrick Burke - chief financial officer of EMI-MR Investment which brought a separate €4.6m debt claim against Gleeson - had a "palpable and unashamed conflict of interest" because he acted for both sides during the merger. O'Meara also alleged in court filings that Gleeson "took cash from tills".

Separate but related proceedings brought by Gleeson, aimed at preventing the Mercantile Group from taking steps to dismiss him as ceo, are still before the High Court.

Sunday Indo Business

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