A settlement was announced in the High Court yesterday in an action by a company against its alleged advisers regarding a £100,000 investment. Westward Garages Ltd claimed it was left with a shortfall of more than £60,000 after it invested £100,000 in a film and television production company.
Westward, of Strokestown, Co Roscommon, had claimed its return on the sale of its investment in Vision Film and Television Productions (No 1) Ltd, left a shortfall of £67,250.
The company brought proceedings against two defendants claimed to be their investment advisers: Davy Corporate Finance Ltd and J & E Davy. The defendants denied the claims.
The hearing had opened before Mr Justice Geoghegan last month and was adjourned. Yesterday, the judge was told the case had been settled.