Travelzest founder and chief executive Chris Mottershead has started libel proceedings against Travelzest.
Mottershead was suspended by Travelzest last month at the same time as the company said it had started an investigation into a "potential misappropriation of company funds".  |
| Chris Mottershead |
Travelzest informed the London Stock Exchange of the suspension with an announcement to the City’s Regulatory News Service.
Law firm Schillings today released a statement on Mottershead's behalf describing the Travelzest announcement as “an extremely serious and defamatory allegation” and stating that he "strongly denies any wrongdoing".
The statement said: “Travelzest's investigation into the allegations, with which Mr Mottershead has co-operated fully, has been running for nearly four weeks without any end in sight.
“Mr Mottershead takes the matter of his unblemished and hard-won reputation very seriously and feels that he has had no other option but to issue proceedings in order to obtain vindication in respect of this matter."
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