Progress is being made in the mediation of a long-running dispute between members of a family whose firm sells and makes jewellery, including the world-famous Claddagh rings, the High Court has heard.
The row involves brothers Andrew and Philip Fried, who are shareholders of Claddagh Jewellers Ltd, which operates shops in Galway and Dublin and also sells its products online.
When the matter was briefly mentioned before Ms Justice Leonie Reynolds on Tuesday, Brian Conroy, for Andrew Fried, said the parties involved had agreed a resolution “in principle” following a mediation conducted by retired High Court judge Paul Gilligan.
He said there were still several steps to be taken, and the parties wanted the court to adjourn the actions to see if matters between them could be finally resolved.
The judge, welcoming the progress, agreed to adjourn the proceedings for a month.
The proceedings are by Andrew Fried, of Leac Lian, Barna, Co Galway, against Philip Fried.
Andrew has claimed that Philip, in conjunction with his father, Laszlo, who is not a shareholder or director of the firm, attempted to interfere with and frustrate the company’s business.
Stake
Andrew sought orders prohibiting his brother and others from contacting the company’s suppliers and requiring that Philip either sells his stake in the company to Andrew or buys him out.
Andrew claimed Philip’s actions were in total disregard to, and oppressive to, Andrew’s capacity as a member of the company.
The claims are denied.
In separate proceedings, Philip Fried of Thornberry, Barna, has claimed Andrew and Claddagh Ring Ltd have breached Philip’s trademark.
Philip also claims he is the sole owner of the trademark “Claddagh Jewellers” and wants orders including one restraining Andrew and Claddagh Ring Ltd from infringing the alleged trademark.
Michael McAteer and Aengus Burns – who in 2013 were appointed by Ulster Bank as joint receivers over the premises from which Claddagh Jewellers Ltd traded on Mainguard Street, Galway – are parties to the mediation.
The receivers are involved in another set of proceedings involving Laszlo Fried and three companies, Lazlo Jewellers Ltd, Jaszai Ltd and Claddagh Jewellers Ltd.
Financial fund Promontoria (Aran), which acquired certain loans from Ulster Bank, claims in those proceedings it is owed €16 million arising out of an alleged failure to repay the balance of loans advanced by Ulster Bank to Laszlo Fried and Jaszai about 10 years ago.
