Parties in an action in which a company director sought a declaration that he was entitled to a 15 per cent shareholding in the Monarch property group had come to terms, the High Court was told yesterday. Mr Edward Sweeney (51), Alma Road, Monkstown, Co Dublin, claimed he was entitled to the shareholding on foot of an agreement concluded in July 1986 during a meeting of the group's directors. The Monarch Group denied the claims and said it had never represented to him when he took employment with the group that he would be given a shareholding.

Mr Bill Shipsey SC, for Mr Sweeney, yesterday asked Mr Justice Barron if the matter could be put in for mention for today. Mr John Traynor SC, for the Monarch Group, said that the parties had come to terms. The judge granted the adjournment.