Ex-Cor Cordis chairman Bruno Secatore is suing the firm’s partnership, claiming his former colleagues fiddled the WIP to reduce his entitlements after he retired from the practice in 2023.
According to legal news site Lawyerly Secatore claims resolutions were passed in “bad faith” to reduce the firm’s work in practice (WIP) from $23 million to $12.7 million.
This Secatore asserts was done deliberately to reduce the amount the four equity partners of the firm would have to pay out on Secatore’s departure.
The claim is being brought in the Supreme Court of Victoria by Secatore’s private company Hulljoy Pty Ltd.
iNO makes no suggestion of wrongdoing and in a brief statement the firm’s equity partners Daniel Juratowitch, Sam Kaso, Jeremy Nipps and Barry Wight said they “dispute the allegations and will defend the claim vigorously”.
iNO will update the story as further detail becomes available.
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