Mr Justice Brian McGovern advised the main shareholders in the McCaughey family to consider mediation
A row between a father and his two Dundalk-based sons over the sale of shares in a timber company was heard by the Commercial Court.
The case was brought to the court by 84-year-old retired businessman Seán McCaughey, who has an address in Gran Canaria. McCaughey has a 70% shareholding in IJM Timber Engineering Ltd. The company, which has 250 employees, has a registered address in Larlurcan, Co Monaghan and is also based in Dundalk.
His sons Peter McCaughey and Martin McCaughey have addresses in Hackballscross, Dundalk
The Irish Times reported that
Seán McCaughey’s court action was taken against the company, his sons Peter and Martin, and a director of IJM, Gregory McKenna with an address in Emyvale, Co Monaghan.
The Irish Times also reported that
The Irish Times also reported: “his (Seán McCaughey) refusal to consent to the acquisition of his shares at what he claims was an undervalued price brought about a progressive deterioration in his relationship with his sons”.
The case is due to come back before the court next week.