London estate agent Winkworth sues chair Simon Agace and his wife over plot 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, for alleged breach of contract and director duties under the Companies Act. The dispute stems from a family feud: Simon Agace, former CEO for 30 years, and his wife Irene Ho Kim Lee attempted to oust all directors except Simon from the board, including his son and current CEO Dominic Agace. Irene used her 34% voting power at the May annual meeting to push for the ouster. Simon later 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. The case occurs amid a broader downturn in the UK housing market, with rising insolvencies and reduced demand due to higher interest rates and geopolitical tensions.