The board of insolvent Media Square has been accused of breaching its fiduciary duties to its shareholders by Bob Morton whose company Hawk Investment Holdings held a substantial stake in the failed business.
Media Square was formerly listed on AIM and went into administration last Thursday. On the same day it was sold on to MSQ Partners, a company formed by Media Square’s chief executive Peter Reid in which he and his chairman Roger Parry hold shares along with various former employees (see Media Square management buys back group from administrators).
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