A £1.58 million (€2 million) claim for damages begun by Anglo Irish Beef Processors Ltd (AIBP) and DJS Meats Ltd against two individuals and two companies over 13 years ago was dismissed by the Supreme Court yesterday.
AIBP, with registered offices at Ravensdale, Dundalk, Co Louth, and DJS, with registered offices at St Stephens Green, Dublin, had sued Mr Derek Montgomery, Rochestown Avenue, Dun Laoghaire, Co Dublin; Mr Seamus Hand, Ballcarrick Road, Donabate, Co Dublin; and National Cold Storage Ltd and Nordic Cold Storage Ltd, both with registered offices at Fitzwilliam Square, Dublin.
The proceedings concerned the purchase by AIBP of the shareholdings of Mr Montgomery, Mr Hand and of the two cold storage companies in DJS Meats for £1. AIBP claimed the DJS balance sheet ultimately showed net liabilities of £1.58 million in excess of the agreed amount of £2.5 million. AIBP sued for the £1.58 million in 1989.
Last year the High Court refused to dismiss the claim by AIBP and DJS. While satisfied that the delay in prosecuting it was inordinate and inexcusable, the court decided the balance of justice was in favour of allowing the action to proceed. The four defendants appealed against that finding.
Yesterday, giving the decision granting the appeal, the Chief Justice, Mr Justice Keane, said the evidence of an accountant, since deceased, would have been critical to the defendants in maintaining their claim for an indemnity or contribution from the accountancy firm SKC. He was satisfied there was a risk that a fair trial was not possible.
