Brothers and fellow doctors James and Joseph Sheehan have seen a breakdown in their relationship over business disputes surrounding the Galway Clinic the High Court has heard.
The two brothers, both in their 70s, were co-owners of the company Blackrock Medical Partners ltd, which owns half of the Galway Clinic.
James Sheehan was giving evidence in court over a suit brought by Joseph against other investors in the Galway Clinic like Larry Goodman’s Parma Investments.
Joseph Sheenan claimed in court that Goodman breached a shareholder’s agreement with a purported transfer of shares from Parma to another company.
James Sheehan told the High Court yesterday that their troubles began when he provided security for Joseph Sheehan Sr for the purchase of shares in the Blackrock Clinic.
According to the Irish Independent James told the court that he acted in “total good faith” in holding the shares, but that his brother has always believed he was trying to take them away from him.
The two brothers previously settled a dispute between each other over BMP after brief court proceedings.
On top of their medical practices as obstetricians, both brothers have significant commercial interests.
They had initially planned to develop the Galway Clinic on their own, but had to bring in other investors after running into financial difficulties.
James Sheehan told the court that Goodman’s investment was what enabled the clinic to be completed.
He described Mr. Goodman as a good friend who offered them financial assistance after reading about the project’s difficulties in the newspapers.
The case continues.