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Summary judgment granted arising from share sale agreement where no replying affidavit filed
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High Court, in an application for summary judgment arising from an agreement to sell shareholdings in companies, where the defendants had failed to put in a replying affidavit: (a) refuses to grant an adjournment to allow settlement discussions to continue; (b) determines that the purchasers and guarantors were liable for the balance of €4.384 million; (c) determines that one of the guarantors was liable for a sum of €41,454 in respect of legal fees; (d) remits to plenary hearing the liability of another defendant in respect of legal fees; and (e) adjourns for further determination the form of the order to be granted, where a dispute arose between the plaintiffs.
Application for summary judgment - €4.4 million - agreement to sell shareholding in companies - guarantees - amendment to agreement - one payment made under agreement, but balance unpaid - agreement to discharge legal fees - application for adjournment - whether it was very clear that the Defendants had no case - whether guarantor might have been discharged from its obligations - whether guarantor had been consulted on and agreed to variation in agreement - whether prejudice to guarantor.
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