EXCLUSIVE: Powermove Sues E3 Style For $285K
Leading consumer electronics distributor Powermove has sued Brisbane based E3 Style claiming they are owed $285,000 which was as deposit on a shipment of goods destine for a major retailer.
E3 is already embroiled in a major claim against Brisbane base distributor Crest in the Supreme Court a case that could end up costing both sides over $1M in legal fees.
The Powermove case which relates to the way E3 Style, who see themselves as a sourcing Company funds shipments is also set to be heard in the Brisbane Supreme Court next year.
Last year E3 Style who ChannelNews believes has been struggling to fund shipments without major deposits similar to the one that Powermove funded sold 50% of her business to a major consumer electronics distributor who E3 CEO Vannessa Garrard now claims are trying to mount a “hostile takeover.
ChannelNews knows the name of the distributor who at this stage we have agreed not to disclose.
What is interesting is that the shareholding has been hidden in a blind trust.
Gerrard has not said why she did not want to disclose her partner or why the shareholding was hidden in a blind trust.
E3 Style who does business with multiple retailers at one stage was in discussions with Crest about a possible merger of the two Companies.
Crawford Giles the CEO of Powermove said that at this stage he did not want to discuss the case as matters were before the Courts in Queensland.
The Crest Vs E3 Style case has it all, allegations of treachery, stolen Officeworks ideas, claims of breach of confidentiality as well as allegations that Harvey Norman was looking to buy into a house brand sourcing Company.
Vannessa Garrard has taken action against arch rival Crest, it’s employees and principle director.
She claims that a former employee Michael Tomkins took confidential information relating to deals that E3 were doing with Officeworks when he quit to join Crest.
She has also alleged breaches of confidentiality agreements between Crest and E3 Style.