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Exclusive Books 'taking advice' on possible legal action against former CEO

8 April 2021 7:48 PM
Tags:
The Money Show
Bruce Whitfield
CNA
Exclusive Books
Benjamin Trisk
Grattan kirk
book industry
tax exemption

Benjamin Trisk left Exclusive Books under a cloud of allegations in 2018. The Money Show interviews current CEO Grattan Kirk.

Exclusive Books is considering legal action against former CEO Benjamin Trisk.

He left the company after the board suspended him in February 2018.

News24 reports that Trisk departed before a disciplinary hearing relating to alleged financial misconduct and abuse of the company credit card.

"We chatted to Benjamin Trisk today" says Bruce Whitfield, "but he said it's absolute rubbish and he's not interested in talking to us about it".

RELATED: Why physical books just keep on keeping on (and will do so forevermore)

Trisk announced his return to the book trade in February 2020 with the acquisition - as part of a consortium led by Astoria Investments - of the CNA chain from struggling Edcon.

In March this year, the High Court in Johannesburg rejected Trisk's application for Exclusive Books to assist him in obtaining a tax exemption relating to his settlement with the company.

Bruce Whitfield interviews Grattan Kirk, who took over as CEO of Exclusive Books after Trisk's departure.

This took place in March 2018 and I was not aware of this at the time of joining. He launched an application against us for the recovery of tax... over-paid or over-deducted in the settlement.

Grattan Kirk, CEO - Exclusive Books

We took some tax advice and legal advice... and then the whole thing played out in court.

Grattan Kirk, CEO - Exclusive Books

The matter giving rise to the article today was to the effect that Mr Trisk had parted company with the previous management and board at Exclusive Books for a number of misdemeanors and they are all articulated in the judgment.

Grattan Kirk, CEO - Exclusive Books

Under advice from our attorneys we've decided to look into those matters and see if there is a case to be answered by Mr Trisk.

Grattan Kirk, CEO - Exclusive Books

Kirk notes that he can't comment on the reasons why the previous board did not pursue the matter at the time.

However, he says Exclusive Books feels "that type of abuse of company assets" is inappropriate.

Under guidance from our attorneys we will take the matter further, or not, depending on what advice we're given.

Grattan Kirk, CEO - Exclusive Books

For more detail, take a listen:




8 April 2021 7:48 PM
Tags:
The Money Show
Bruce Whitfield
CNA
Exclusive Books
Benjamin Trisk
Grattan kirk
book industry
tax exemption

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