Gough Group deputy chairman and strategic development manager Ben Gough, and his sister Gina Satterthwaite, have successfully appealed a high court judgement that could have seen Ben Gough losing his seat on the board of the company.
Ben Gough and Gina Satterthwaite have a marginally small controlling stake in the equipment and heavy machinery company which was co-founded by their grandfather Tracy T Gough in 1929, and holds the lucrative dealership for Caterpillar trucks and heavy equipment .
Tracy T Gough was twice married and the two branches of grandchildren have been involved in a long-running power struggle according to Stuff.
Brothers Anthony, Tracy and Harcourt Gough, and sister Avenal McKinnon, are the grandchildren of Tracy Gough’s first marriage and are trying to loosen control of the family company from Ben Gough and Gina Satterthwaite who are the grandchildren from the second marriage.
Last year the Gough family wealth was estimated at $350million by the National Business Review ‘Rich List’.
According to Stuff the Anthony Gough side last year sought a court ruling on how to interpret a certain part of the company’s constitution.
The court of appeal judgement released yesterday sets aside the high court judgement which upheld the Antony Gough side’s argument.
In its judgement the court of appeal said it disagreed with the high court judges’ interpretation of the relevant clauses in the constitution.
According to Stuff Ben Gough says to have the appeal go their way was positive.
“Now we need to digest the decision and contemplate next steps. I still consider this a private matter and won’t be commenting.”
