A dispute between Dunnes Stores and developer Harry Crosbie over a €46 million deal related to the Point Village development in Dublin’s docklands is on the verge of settlement, it has been indicated to the Commercial Court.
After talks between the sides, Mr Justice Frank Clarke agreed yesterday afternoon to a request from Michael Cush SC, for Dunnes, to adjourn the case to today to allow an agreement between the sides to be finalised.
The case was due to open at 11am yesterday.
Both Margaret Heffernan of Dunnes and Mr Crosbie were in court.
The case arises from the Point Village agreement of February 27th, 2008, under which Dunnes, whose €23 million flagship store in the Point Village is under construction, agreed it would pay €46 million plus VAT for certain works.
Dunnes Stores claims it is entitled to rescind that agreement due to the alleged abandonment of the defendant’s plans to build a 102m “Watchtower” and the “U2 Experience”.