Lenders of controversial Altada loan nearing agreement with Revenue

Revenue, which is owed more than €2 million by Altada, had challenged the legality of a €500,000 emergency loan to the failed technology company, given the firm was heavily insolvent at the time

Allan Beechinor and Niamh Parker, co-founders, Altada: Revenue is owed more than €2 million by the company. Picture: Darragh Kane

Lenders of a controversial loan to Altada, the failed technology company, are close to agreeing a settlement with Revenue that will end an ongoing High Court action, the Business Post has learned.

While the company was put into liquidation earlier this year, creditors have still not received payouts due to the outstanding action, which focuses on a complex legal row. However, multiple sources told this publication the case is expected to be resolved in the ...