AAP General News (Australia)
08-18-2010
QLD:Bean counter, Occy may settle on shares
BRISBANE, Aug 18 AAP - A stoush over Billabong shares between surf legend Mark Occhilupo
and his former accountant appears likely to be settled out of court.
A civil trial between Mr Occhilupo and Noel Holmes got under way on Tuesday in the
Supreme Court in Brisbane.
However late Wednesday morning lawyers from both sides started discussing a potential settlement.
"We are in negotiations at the moment," Mr Occhilupo told reporters outside court.
"So hopefully we are going to come to an agreement."
The former world champ is fighting for control of about 21,700 shares bought in the
surfwear company for $50,000 in 2000.
At the current market price the shares are worth about $185,000.
Mr Holmes claims the shares, although bought in Mr Occhilupo's name, were purchased
with money from his superannuation company.
The trial will be mentioned again later on Wednesday afternoon.
AAP cf/pjo/was
KEYWORD: OCCHILUPO
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