A filing in the High Court reveals the case was struck out on Monday. Neither side has revealed the terms of the settlement, which is believed to have involved both sides picking up their own costs.
Ireland’s largest nursing homes group suffered from the scandal that nearly broke its French multinational parent last year, but a bail-out agreed in Paris is beginning to trickle down into this country.
The troubled French-headquartered nursing home giant is accused of knowingly and deliberately suppressing profits after acquiring Fetherston's nursing home chain to avoid a €7 million payout. It denies the allegations.
K Club owner Michael Fetherston claims care giant Orpea has suppressed earnings to avoid paying him a €7 million performance fee arising from its takeover of his TLC chain of nursing homes.
The scandal-struck private care group is being sued by K-Club owner Michael Fetherston, who sold his TLC Nursing Homes business to the multinational in a deal north of €100 million.
Investors led by France’s sovereign wealth fund are taking control of the debt-ridden French care multinational. Their input into an ongoing restructuring plan remains to be seen, as does its impact on Orpea’s 1,500 Irish residents.
Following a scandal in its French home market, Orpea is battling creditors with deadlines falling in the coming months. New company information reveals how its Irish arm is facing the crisis.
The French nursing home group, which has a leading position in Ireland, is facing insolvency early next year if it can’t convince investors to refinance it for the second time since a scandal erupted last January.
Irregularities uncovered in France have shaken Orpea, the multinational group now dominating Ireland's nursing home industry. This investigation draws from inside sources and dozens of inspection reports to assess what the scandal means for its hundreds of residents and its expansion plans here.
Orpea had become a Paris stock market darling and a world leader in private care but it all came crashing down over the course of this year. A two-part investigation explores the impact on its recent drive into Ireland.
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