Altada liquidator has ‘significant concerns’ around €500k loan

John Healy’s affidavit claims a secret ‘board meeting’ was held at the AI company to discuss a €500k emergency loan, which shareholders weren’t told about for two months

Niamh Parker and Allan Beechinor, co-founders, Altada. Picture: Darragh Kane

On the morning of Friday September 9 last year, an “extraordinary” series of events are alleged to have occurred at board level in Altada, the Cork-based tech firm.

At 9.15am that morning, a board meeting of the AI-focused company is alleged to have taken place that was attended by Allan Beechinor, the co-chief executive and founder, Martin O’Brien, the company’s chief financial officer, and Alan Merriman, the founder of investment fund Elkstone, which was a ...