Court hears Web Summit case on the verge of settlement

The bitter High Court civil trials involving three co-founders of tech conference giant Web Summit is on the verge of resolution with settlement terms expected to come before the court on Thursday.

Hours of talks have taken place, and on Wednesday, the court was due to hear evidence from former Web Summit director Daire Hickey.

However, for the second day in a row, proceedings were put back as lawyers and parties held talks in corridors all morning outside Court 29 in the Four Courts building.

At around 12.30 pm, barrister Michael Cush SC, for another former director, David Kelly, told Mr Justice Michael Twomey that negotiations had not yet borne fruit but that time in the case had not been wasted.

Mr Justice Twomey then adjourned the case until 2 pm.

At around 2.05 pm, Mr Cosgrave’s legal team asked him outside the court, and five minutes later, counsel for all three were seated before Mr Justice Twomey.

Mr Cush said he was pleased to say there had been a beneficial development…