Wednesday 28 October 2026Compiled from published reports. Every claim links to its source.

Ireland Crime

Every case followed from the first report to the sentence, or to where the reporting stopped.

Case No. 2064Shareholder oppression, breach of fiduciary duty (civil commercial dispute) · Co. Dublin

Web Summit shareholders' civil trial begins at High Court

A civil trial at the High Court has begun involving Web Summit CEO Paddy Cosgrave and minority shareholders David Kelly and Daire Hickey, with five related cases expected to take nine weeks. Cosgrave's barrister told the court that Kelly proved himself 'disloyal and faithless' by founding a competing venture capital fund using Web Summit resources, while Kelly and Hickey allege their rights as minority shareholders have been oppressed.

  1. Reportednot reported
  2. Arrestednot reported
  3. Chargednot reported
  4. In court18 Mar
  5. Verdict
  6. Sentenced
reportedhappened, not reportedlatest stagenot yet

Key facts

consolidated from all reports
10 statements extracted from the articles
  • whatA civil trial involving Web Summit CEO Paddy Cosgrave and minority shareholders Daire Hickey and David Kelly was heard at the High Court. (irishtimes.com)
  • whatFive related cases are being heard together and are expected to take nine weeks. (irishtimes.com)
  • whatCosgrave sued Kelly in late 2021 seeking $10m in damages over claims Kelly caused a loss by founding a competing venture capital fund. (irishtimes.com)
  • whatDavid Kelly owns 12 per cent of Manders Terrace, the holding company behind Web Summit. (irishtimes.com)
  • whatDaire Hickey owns 7 per cent of Web Summit. (irishtimes.com)
  • whatPaddy Cosgrave holds an 81 per cent majority stake in Web Summit. (irishtimes.com)
  • whatCosgrave's barrister told the court that Kelly proved himself to be disloyal and faithless. (irishtimes.com)
  • whatHickey claimed in his 2021 grounding affidavit that Web Summit could be worth between €200 million and €350 million. (irishtimes.com)
  • whatThe court was told the company had a chance to roll out a second venture fund with its own resources, which Kelly co-opted for his own private property. (irishtimes.com)
  • whenKelly's formal letter of resignation from Web Summit was received on 14 April 2021 with an end date of 30 April 2021. (irishtimes.com)

The reporting

newest first
  1. 18 Mar2025
    In courtirishtimes.com, first report
    Web Summit case day one - as it happened: David Kelly proved himself ‘disloyal and faithless’, court told as case begins

    First day of a nine-week civil trial covering five related cases between Web Summit's CEO and two minority shareholders. Cosgrave's opening submissions allege Kelly's 'active deception' in co-opting a second venture fund; Kelly and Hickey counter-claim shareholder oppression and damage from Cosgrave's 2024 tweets about Hamas and Israel.

    suspect, Paddy Cosgrave, male, named, irish (judged from name)Paddy Cosgravesuspect, David Kelly, male, named, irish (judged from name)David Kellysuspect, Daire Hickey, male, named, irish (judged from name)Daire Hickey