The clash between the top executive of the billionaire Castel family’s eponymous firm and two heirs took an unexpected turn after the two sides disputed the outcome of a shareholders’ meeting.
On Monday, the Castel family said in a statement that Chief Executive Officer Gregory Clerc had been revoked by a “qualified majority” as a director of Singapore-based Investment Beverage Business Management, or IBBM, a key entity of the group. The chairman of the entity, Pierre Baer, was also removed, they said.
In a separate statement, IBBM disputed the claim, saying none of the resolutions were “validly passed,” and that ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.