Brady left the board at Fratton Park last October after clashing with the then managing director, Martin Gregory, over the money available for new signings. He had been a director at Fratton Park for only eight months, after providing an interest-free pounds 500,000 loan to help the club buy Martin Allen from West Ham.
Now Brady is demanding Pompey pay back the money he claims they owe him. But the club are fighting the writ, saying the money was not a loan but an investment to buy shares.
The case appeared briefly before the Chancery Division of the High Court in London, but was adjourned for a second hearing. Now the two sides will meet to try to sort out the dispute over the money.
Nick Trainer, Portsmouth's solicitor, warned yesterday that the dispute could take up to two years to settle.
Trainer said no shares were ever issued to Brady because the club were unsure how much he was prepared to invest, but added that Brady could have whatever shares he had paid for.Reuse content