Full coverage: Daire Hickey

After hours of talks, the court heard there has been a development, and that the parties needed until tomorrow morning for what has been discussed to be written up and finally agreed.

Settlement talks will continue on Tuesday in the bitter dispute between Web Summit's three shareholders after the judge warned the proceedings could eat up three years of their lives.

Former Web Summit directors Daire Hickey and David Kelly could sell their company shareholdings in the morning but are driven by "greed", claim lawyers for CEO Paddy Cosgrave.

Web Summit CEO Paddy Cosgrave disseminated edited audio clips of his co-founder David Kelly in a bid to damage him, the High Court was told.

Web Summit's Paddy Cosgrave's wage package soared from €400k to €3m with another €7m of company money spent on legal fees, it is also alleged in minority oppression proceedings against the CEO.

The warring Web Summit shareholders have landed in the High Court for a nine week action to fight contesting claims of shareholder oppression and breach of fiduciary duties. Lawyers for the company and CEO Paddy Cosgrave got the ball rolling.

In a series of emails , minority Web Summit shareholders Daire Hickey and David Kelly complained to the board that they were being kept out of the loop after Cosgrave's controversial departure, and the ex-CEO appeared to be still "calling the shots".

In the absence of mediation or any move to agree a buyout of the minority interests, "expensive and complicated" remains the most likely forecast for this internecine corporate fight at the world's leading tech conference.

In a new court filing, Web Summit CEO Paddy Cosgrave claims to "correct the record" on oppression allegations made against him by the company's shareholders. He also ups the stakes with a swathe of new claims about former business partner Daire Hickey.

The new suit against tech entrepreneur Paddy Cosgrave and Web Summit, filed two days before Christmas, is a spin-off from Daire Hickey’s minority shareholder oppression claim.