The dog failed a drug test and an Irish Coursing Club (ICC) inquiry disqualified it. No adverse findings were made personally against Mr Jones or his fellow syndicate members, greyhound trainer Pat Curtin and bookie Denis Gould.
However, the syndicate, along with Mr Curtin's sister and greyhound handler, Bridget Curtin, sought a High Court judicial review of the ICC's decision.
They claimed they were not afforded proper procedures by the ICC in relation to the inquiry and also alleged there had not been full disclosure of the allegations against them.
The ICC opposed the application as did the owner of the greyhound which came second, retired businessman Michael Kelleher. Mr Kelleher says he was being deprived of the race's €80,000 purse, which still has not been distributed.
The case was due to begin yesterday before High Court president, Mr Justice Nicholas Kearns, who was told talks were under way in an effort to settle.
Gavin Ralston, for the ICC, said the terms of any settlement had to be relayed to a committee of the ICC which comprises 21 members.
He said "we are approaching getting a majority" but more time was needed.
The judge said in view of this, he would adjourn the matter to later today.