RE: Spiking UP his afternoon11 Aug 2023 11:06
Claim - counter and defence............
"RBG's defence and counterclaim alleged that Foulston also breached her fiduciary and director’s duties by placing herself “in positions of unauthorised conflict, preferring her personal financial interests” over her duties to RBG.
That involved misleading RBG’s remuneration committee over Robert Parker, who was RBG’s Chief Financial Officer for three years until he agreed to resign in December 2022, claimed RBG.
RBG alleged that Foulston erroneously represented that Parker was owed £300,000 under his contract, payable to a company, Velocity Venture Capital, of which she was a director and a shareholder. It alleged that Foulston did not disclose "the full nature or extent of the proposed arrangements involving [Velocity] and Mr. Parker and, accordingly, of her interest in the transaction".
It also claimed that at Foulston’s direction, Parker wrote off £73,630 in fees generated by RBG fee-earners who had been working on an intellectual property dispute for Velocity. RBG is now suing to recoup the sum.
Foulston's actions “gave rise to a clear (and not just potential) conflict of duty and interest” between her duties to RBG, “including to minimise write-offs”, and “her personal interest in the write-off of fees payable by VVC [Velocity], by which VVC and (indirectly) she would financially benefit”, RBG said"
https://www.rollonfriday.com/news-content/exclusive-ousted-rbg-boss-nicola-foulston-barred-agm-accusations-fly