Karl Stefanovic must buy out partner or liquidate podcast company
A court ordered the former TV presenter to buy out co-founder Keshnee Ibrahim or shut down his production company.
Karl Stefanovic faces a stark choice after NSW Supreme Court orders: buy out his business partner or shut down the company behind his podcast show. Keshnee Ibrahim owns 45 per cent of the venture.
On Tuesday, she won urgent orders. The orders stopped him from forcing her out before a judge rules on the dispute.
Ibrahim's lawyer said Stefanovic ran the company in an oppressive and unfairly prejudicial manner. The pair set up the company less than one year ago, with Stefanovic holding 45 per cent and his accountant Anthony Bell holding 10 per cent.
Justice David Hammerschlag said the partnership's irretrievable breakdown left only two paths: one partner buys the other's stake, or the company is shut down and wound up. The case returns to court in October.
- 45 per cent
- Ibrahim's stake
- 45 per cent
- Stefanovic's stake
- 10 per cent
- Anthony Bell's stake
- Less than one year
- Time since founding
Why it mattersStefanovic's new media venture is stuck in legal limbo. He must either pay for an expensive buyout or lose the podcast entirely.
AustraliaThe dispute involves a major Australian media personality and his attempt to launch a new business after his sacking from Nine Network.
✓ Claims checked against the source and corrected before publish. checked 9 d ago
