Goodman Holdings has withdrawn its long-running legal action against the State, which relates to beef supplies to Iraq.
Legal proceedings were started by the company in 1989 after a decision by then Minister for Industry & Commerce Des O'Malley to cancel export credit insurance on sales of beef to Iraq.
The company was claiming for €100m, in addition to costs and damages.
The State has agreed to withdraw a related smaller action against the Goodman company for the recovery of €5m paid to a bank in 1990 in respect of a shipment of beef to Iraq
Both sides have agreed to bear thier own respective legal costs incurred to date in relation to both sets of proceedings.
