UK - Montagu in legal battle with GHD co-founder

Penny was removed from the board of GHD in 2008, 18 months after Montagu acquired a 40% stake in the business in a £160m deal.

Penny claims he was ousted after bringing 'irregularities to the board's attention' and has filed a court action to force Montagu to buy out his 40% stake in the company.

It is reported that the allegations have been denied both by Montagu and GHD. GHD was cited as saying that Penny was asked to leave on 'peformance grounds'.

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