Stobart and former boss Andrew Tinkler to begin courtroom battle this morning
The bitter boardroom battle between Stobart and a former company boss will come to a head this morning as the trial into the dismissal of Andrew Tinkler gets under way.
The Southend Airport owner claims Tinkler led an unlawful conspiracy against the company with an unsuccessful attempt to topple chairman Iain Ferguson in July.
Tinkler had supported The Edinburgh Woollen Mill owner Philip Day for the role but he was narrowly defeated in a shareholders' vote.
But Tinkler, who was chief executive for more than nine years, has lodged a counterclaim that his dismissal was invalid.
Tinkler's lawyers amended their argument at a pre-trial hearing last month to include claims that the “difficult questions” he asked regarding Stobart's deal with Ryanair partly led to his dismissal.
At the AGM just days before his dismissal he suggested the company's $300m (£225m) deal, which will see three Ryanair aircraft based at the airport from next summer, would negatively impact its finances.
Tinkler's legal team will also argue that the chairman vote was swayed after Brady and Ferguson decided over Whatsapp to transfer 6m treasury shares to Employment Benefit Trust shares and use them to vote for Ferguson.
Stobart will claim Tinkler had made decisions regarding the failed takeover of Flybe to “enrich himself”.
The firm also claim he conspired with shareholders to elect billionaire entrepreneur Philip Day as chairman – a cabal, which misused confidential information and “destabilised” the company.
In a separate matter, Stobart will claim Tinkler further breached his fiduciary duties through “excessive and unnecessary” expenses.
At a pre-trial hearing last month the court heard his daughter had been using a company flat in Soho Square and Range Rover acquired at a charity event and that Tinkler had used Stobart funds for his helicopter and jet travel.
Tinkler denies all the allegations.