Philip Gannon filed a High Court case last Wednesday (14 November) against Ian Lucey and his firm Lucey Technology citing “specific performance”, which is often an attempt to compel a party to fulfil contractual obligations.
Neither party would comment on the case, though it is understood to be separate to Gannon’s withdrawal of his Harbour Innovation Campus plans from Dun Laoghaire last month in the absence of a foreshore licence for the earmarked St Michael’s Pier site.
Previous to that, in September, Lucey wrote in a blog post on Medium that he had moved to “step back” from the project “as [Philip Gannon’s] Blond Capital undertook more management, in line with [Lucey Fund’s] model of being a small shareholder in a number of businesses.”
The Sunday Times has more on the story HERE.
Note: This piece has been corrected to remove a previous statement that Philip Gannon and Ian Lucey were business partners. The shareholder agreement clearly states that no partnership was created. We are happy to make this clarification.