Motive Television puts end to legal battle with former employee
TV software and services group Motive Television has announced that the High Court has consented to the settlement reached with former employee Andre Vanyi-Robin, marking the end of the legal battle between the two.
TV software and services group Motive Television has announced that the High Court has consented to the settlement reached with former employee Andre Vanyi-Robin, marking the end of the legal battle between the two.
What happened?The decision by Motive to settle comes after it initially won a court case against Vanyi-Robin, who claimed he was owed around £183,000 after not receiving Motive shares that should have been issued to him.
Vanyi-Robin then said that he would appeal the judgement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
At the time the company said his claims, which included his dismissal for gross misconduct, had no foundation and it would "contest them with the utmost vigour".
However, the firm has since said it would issue 100m ordinary shares of 0.01p each in the company to the former employee.
In addition, the business has also agreed to pay to Vanyi-Robin earn-out commissions totalling £41,583.62 for the years 2011 and 2012.
Both issuances of shares will be subject to a soft lock-in arrangement for 12 months in order to preserve an orderly market.
An amicable settlementVanyi-Robin previously said he was pleased the two sides have reached this settlement amicably and added that Motive is a "fantastic business".
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published