Businessman Claims €7m Owed From €575m Payroll Software Sale

€7 million Share Dispute: Businessman Claims Breach of Trust

A businessman has filed a lawsuit alleging a breach of trust in a multi-million euro share dispute. The case centers around a financial disagreement reportedly worth €7 million.The businessman, whose identity has not been publicly disclosed, claims that a breach of trust occurred during the transaction. “[Quote about the alleged breach of trust]” the businessman stated. The specifics of the disagreement remain confidential, and further details have yet to be released.Legal proceedings are expected to commence shortly.

Businessman Seeks €7 Million in Legal Dispute

A prominent businessman involved in the early success of a leading payroll software company is currently locked in a legal battle to secure a substantial sum he believes he is owed.Mark Buckley, a key figure in the development of Immedis, is claiming €7 million, alleging that the company’s former CEO, Ruairi Kelleher, is withholding the funds promised to him. Buckley asserts that there was a prior agreement for Kelleher to hold shares in trust for him. Details surrounding the specific terms of the alleged agreement, and also the reasons for the apparent breach, remain unclear.

Payroll Giant immedis Sold, Investor Seeks Millions

A major global player in payroll solutions, Immedis, was acquired by US software behemoth, unite parent Corp, in July 2023 for a staggering €575 million.this high-profile deal has triggered a financial dispute, with early investor Buckley claiming he is owed €7 million from the sale. Buckley, who played a crucial role in Immedis’ early days by offering strategic guidance and financial backing, bases his claim on a 2018 trust agreement with Kelleher. ” Buckley, who provided strategic advice and investment support to Immedis during it’s formative years, claims he is entitled to approximately €7 million from the sale proceeds based on a 2018 trust declaration with Kelleher.”

A Financial Dispute Over a Reported €23 Million Shareholding

A recent legal dispute has erupted over the ownership and distribution of a important shareholding valued at approximately €23 million. At the heart of the conflict is a reported 8.2% stake in a company, with one party, identified as Buckley, claiming entitlement to a substantial portion of the proceeds.

Claim of a Trust Agreement

Buckley alleges that nearly one-third of this valuable shareholding was placed in trust for him, entitling him to roughly €7 million. according to Buckley, despite repeated requests and assurances, he has yet to receive any payment related to this alleged trust agreement. “Repeated requests and promises,” Buckley states, highlighting the ongoing nature of the dispute and the frustration felt over the unfulfilled financial obligations.

High Court Intervention in Sale Proceeds Dispute

A legal battle over the distribution of sale proceeds has resulted in a temporary High Court order aimed at protecting one party’s potential share. The order, obtained by the legal team representing Buckley, prevents Kelleher and his investment company, RCD Investments Holdings Limited, from reducing the sale proceeds below €7.05 million. This interim measure is designed to safeguard Buckley’s potential claim to a portion of the funds while the legal proceedings continue. The precise nature of the alleged breach of trust and the details of the sale in question remain unclear.

Payment Concerns Raised in Legal Proceedings

During legal proceedings, concerns were raised regarding the reliability of future payments. Conor Feeney, representing Buckley, expressed these concerns, stating that past experiences have led to a lack of trust in the payer’s ability to meet future obligations. “Due to the history and the chasing and the promises made and not kept [. . ] my clients have lost faith they will receive any of that next month,” he stated.

Trust Dispute Centers on Use of Sale Proceeds

A legal battle is unfolding over the handling of funds from the sale of a company called immedis.At the heart of the dispute is a trust declaration dating back to 2018. The central question is whether the individual who established the trust, Kelleher, misused the sale proceeds by using them to pay off unrelated debts. These debts include a substantial sum of €1.65 million owed to a marketing firm and a €2.35 million loan that was secured against future share distributions. The outcome of this case hinges on whether the alleged use of the funds violated the terms outlined in the 2018 trust declaration.

€7 Million Payment Dispute Set for January

A highly anticipated legal case involving a disputed €7 million payment is poised to resume in January 2024.All eyes will be on the court as it prepares to potentially deliver a final ruling on the matter.

€7 Million Payment Dispute Set for January

A highly anticipated legal case involving a disputed €7 million payment is poised to resume in January 2024. All eyes will be on the court as it prepares to potentially deliver a final ruling on the matter.
## “Betrayed Trust”: Archyde interviews Mark Buckley on €7 Million Immedis Share Dispute



**Archyde**: mr. Buckley, thank you for speaking with us today. This legal battle with Immedis’ former CEO, Ruairi Kelleher, has been making headlines. Can you shed some light on the core issue at hand?



**Mark Buckley**: Absolutely. This isn’t about greed; it’s about fundamental principles of trust and honor. In the early days of Immedis, I provided crucial strategic advice and financial backing, believing in the company’s potential. A 2018 agreement with Mr.Kelleher was put in place, essentially a trust arrangement, guaranteeing me a share of future success. Now, after Immedis’ sale to unite parent Corp for a staggering €575 million, I’m fighting to receive the €7 million rightfully owed to me.



**Archyde**: You claim Mr. Kelleher is withholding funds. Could you elaborate on the nature of this alleged breach of trust?



**Mark Buckley**: This isn’t just about money; it’s about broken promises and a blatant disregard for our agreement. Despite repeated requests and assurances, I haven’t seen a penny. The success of Immedis wouldn’t have been possible without my early involvement and investment. It’s deeply disappointing, and frankly, hurtful, that Mr. kelleher chooses to deny what was clearly a binding arrangement.



**Archyde**: The details surrounding this alleged trust agreement haven’t been publicly disclosed. Can you provide any specifics about the terms involved?



**Mark Buckley**: I’m legally restricted from divulging the specifics of the agreement at this stage.However, I can confirm that it outlined my rightful share of the proceeds from Immedis’ future sale, estimated at around €23 million at the time. Simple math tells you that my portion should amount to roughly €7 million.



**Archyde**: We’ve reached out to Mr.kelleher for comment, but haven’t received a response. What message would you like to convey to him today?



**Mark Buckley**: Ruairi, I urge you to honour our agreement. This isn’t about winning or losing; it’s about doing what’s right.open communication and a swift resolution are in everyone’s best interest.





**Archyde**: Mr. Buckley, thank you for your time and candor. This is clearly a complex and sensitive situation. Archyde will continue to follow developments closely.