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Myerson reinstated as head of old firm
Jim Armitage24.04.09
Activist investor Brian Myerson, who lost a court appeal earlier this month to reduce his wife's £11.2 million divorce settlement, today regained control of his poorly performing Principle Capital Management Trust investment firm.
He was kicked out as chief executive by his own shareholders last month.
Among those who ousted him was investment firm EIM, which is run by Uma Thurman's boyfriend Arki Busson.
They believed investors would be best served by selling down Principle's investments immediately “in an orderly fashion”.
Myerson's holding company said that was a “fire sale”, detrimental to investors. He wants to sell down its investments over a longer period.
His position was strengthened when EIM sold him its stake the day after his ousting and at a shareholder meeting today he and his team were reinstated.
Duff investments from Principle include Blacks Leisure and Luminar nightclubs.
