Winkworth sues chair Simon Agace over alleged plot with wife to oust son from board

Published Aug 7, 09:02 AM UTC

London estate agent Winkworth has launched High Court proceedings against its chair, Simon Agace, accusing him of breaching his contract and director duties under the Companies Act. The dispute stems from an alleged plot by Agace and his wife, Irene Ho Kim Lee, to oust all directors from the board, including their son and current CEO Dominic Agace. At the company's annual meeting in May, Lee used her 34% voting power to attempt the ouster. Agace has since demanded a board overhaul and threatened a shareholder meeting. Winkworth has sought an interim injunction to block Agace from sharing confidential information and using family voting power to change leadership. The company declined further comment due to ongoing legal proceedings. Winkworth shares fell 1% on the news.