This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Legal
Ingenious refute claims of the Trinity Two
By CMU Editorial | Published on Tuesday 24 February 2009
Music investment firm Ingenious Media have refuted those previously reported allegations made by David Robson and Andy Murray in relation to the collapse of music marketing and e-commerce firm Trinity Street.
As previously reported, Robson and Murray, who acquired Trinity Street back in 2004 and who formed an alliance with Ingenious in 2007, were fired from the company and pushed off its board at the end of last year. They announced last month that they planned to sue the e-commerce firm’s parent company, Trinity Universal Holdings, claiming they were unlawfully removed as directors in what they describe as a “boardroom coup”.
When it became clear last week that that board planned to put Trinity Street into administration, Robson and Murray issued another statement saying they were expanding their litigation to name Ingenious as defendants, adding that the demise of their former company was caused because the new management installed by Ingenious “failed to secure new business and allowed loyal, long-term clients to take their business elsewhere”.
Ingenious insiders, though, claim Trinity Street’s demise began long before Robson and Murray were kicked out, adding that the two directors’ removal was a result of the company’s disappointing performance.
Calling the plaintiffs’ version of events a “grotesque distortion”, one insider told CMU that after the “boardroom coup” an investigation found the company was in an even worse state than originally believed – there are rumours the company’s debts topped £5 million, the majority of which would have been owed to the investment firm – and that that discovery led to the decision to close the company down.
It remains to be seen if Robson and Murray’s lawsuit proceeds to court, though Ingenious seem certain to fight it if it does.
