Court Finds Oppression and Breach of Duties in Carbon Case
A recent court ruling has found investment bankers Will Leckie and Chris Morrison guilty of breaching their duties as directors and acting oppressively towards their partner, Ant Beverley, in a carbon farming venture.
Ant Beverley, co-founder of Drylandcarbon, and his wife Wendy were shareholders in a carbon credit joint venture. The High Court ordered Leckie and Morrison to buy out Beverley's interests for $12.135 million.
The court's decision is a significant win for Ant Beverley, who brought the claim against the investment bankers.
- The High Court found Leckie and Morrison breached their duties as directors.
- The pair acted oppressively towards Ant Beverley in the carbon farming venture.
- The court ordered Leckie and Morrison to buy out Beverley's interests for $12.135 million.
Author's summary: Court rules against investment bankers in carbon case.