Case alleging shareholder oppression in Rose of Tralee company may not go ahead due to death
High Court Reporter
High Court proceedings alleging shareholder oppression in the company operating the Rose of Tralee festival may not go ahead following the death of one of its investors.
US-based businessman Richard Henggeler died on October 7th, aged 73.
Mr Henggeler, a 31.1 per cent shareholder in the Kerry Rose Festival Ltd, had brought proceedings against festival CEO Anthony O’Gara and John McCarthy, director and accountant, and also against the festival company.
He sought orders compelling Mr O'Gara, who owns 55 per cent of the shares, and Mr McCarthy, who owns 6 per cent, to sell their shares to him.
He had also brought separate proceedings against the festival company seeking repayment of a loan he made to it for €96,414.
The money was repaid but the shareholder oppression proceedings continued.
On Tuesday, his barrister told Mr Justice Brian Cregan his client had died and sought an adjournment to December to see where matters go from there.
The judge adjourned the case.
