Lynch sues One51 over €1.5m payment 'owed'

Businessman Philip Lynch is suing the company he founded, investment vehicle One51, for €1.5 million which he claims it still owes him.

28th April, 2012
Lynch sues One51 over €1.5m payment 'owed'
Philip Lynch, who was ousted as One51 chief executive last year, is suing the company he founded. Photo: Credit

Businessman Philip Lynch is suing the company he founded, investment vehicle One51, for €1.5 million which he claims it still owes him.

Lynch was ousted as chief executive last year following two years of shareholder turmoil as losses at the company mounted. There was an agreement that he would be paid €2.5 million on leaving, but Lynch claims that he is still owed €1.5 million by One51, which is currently streamlining its diverse asset portfolio.

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