APN sues over 'betrayal'
Former APN Property chief executive David Blight has been accused of plotting to use company secrets to set up rival commercial real estate businesses, court documents reveal.
The listed group alleges that Mr Blight engaged in serious misconduct in his final months in the top job, including violating his statutory and fiduciary duties as a director and misappropriating confidential information for his future personal financial gain.
The explosive claims have been made in a Supreme Court lawsuit filed by APN in a bid to claw back more than $655,000 paid to Mr Blight on his departure. The company is also seeking compensation for the damage Mr Blight allegedly caused to its business.
Mr Blight announced he was stepping down in mid-February after more than four years at the helm, which included steering APN through the global financial crisis.
The company claims Mr Blight had been copying confidential company information and entered into secret negotiations with some of APN's long-time partners in a bid to cut the group out of future deals.
APN has submitted as evidence a list of more than 30 emails Mr Blight allegedly sent between his work and personal accounts that contained sensitive company documents.
Mr Blight did not respond to a request for comment.