Christchurch timeshare worker, Carl Coombes, is suing his employers, Paradise Time Share, claiming that they reneged on a promise of shares in the business in exchange for £90,000.
He alleges that two of the company’s directors agreed to issue him with a 5% shareholding when the company was incorporated, but says that in breach of contract this has not happened.
Mr Coombes claims he was offered the deal in April 1996 as a loyalty inducement, and agreed to pay a total of £90,000 in exchange for a 5% shareholding in the company. He alleges he paid £32,000 on 24 April 1996, with the balance to come out of future dividends, and, in 1997, paid a further £3,500 when it became clear that no dividends would be declared that year.
He now seeks an order for specific performance of the agreement, and damages for breach of contract.
The writ was issued by Steele Raymond, of Bournemouth.
PLS News 12/9/01
