Just when you’d think that the issues concerning Courts have ended, here it goes again. Its original founder, David Isaacs, had expressed his wish to make the acquisition of the firm. Now, he is being accused of not having followed the procedures by the CEO of Courts Asia, Terry O’Connor.
Terry O’Connor said in a correspondence that they were pushed out by a political decision in favour of their competitor. According to O’Connor, the latter overrode the procedures by interacting with the Financial Services Commission and the minister.
Courts Asia, registered in Mauritius as Hillbrown (Mauritius) Ltd asks for a Fact-Finding Enquiry to shed light on the affair. They deem the procedures not to have unfolded in a “just and transparent” manner. Terry O’Connor explained that the FSC was aware that its special administrators were negotiating with them, and that it did not reveal that it was also in discussion with another party.
The CEO also mentioned taking legal recourse if need be.