Former Wallabies captain George Gregan has been accused of oppressive conduct in a court case brought by the founder of sports startup PTP Fitness.
Mr Gregan is also embroiled in a second legal proceeding in the Federal Court brought by the startup.
Mr Gregan is a director of Fitness Systems United, which trades as PTP Fitness and sells fitness items including resistance bands, yoga mats and fit balls.
Its products are stocked in Rebel Sport and sold online through its own website and The Iconic.
A source close to the business who did not want to be identified said PTP Fitness was a “multimillion-dollar business”.
PTP Fitness was started by Alexander Goldberg in 2010 and attracted an investment from his brother-in-law Matthew Dixon who became a partner in the business.
Mr Dixon is a former NSW Waratahs player and friend of Mr Gregan and introduced the former
Wallaby to the startup. Mr Gregan later gained a share in the company and became a director.
Mr Goldberg, Mr Dixon and Mr Gregan are listed as three directors of PTP Fitness in company records.
PTP Fitness’ website states that Mr Gregan “joined forces” with the startup shortly after its inception “bringing his long time fitness experience and passion”.
“George contributed to develop the highest quality products that would make state of the art training accessible to all, via easy-to-follow workout programmes and instructional advice,” the website states. “From that point on, the brand continued to innovate and gained popularity for its great attention to design, functionality and accessible educational content.”
However the directors of the business have fallen out, with Mr Goldberg claiming he has been locked out of PTP Fitness’ financial accounts.
Mr Goldberg is the sole director of ADG United which brought proceedings in the New South Wales Supreme Court against EG Enterprises, Astro Corporation, Fitness Systems United (PTP Fitness), Mr Dixon and Mr Gregan claiming specific performance, oppressive conduct and seeking the winding up of PTP Fitness.
EG Enterprises has two directors, Mr Gregan and his wife Erica Gregan and Astro Corporation’s directors are Mr Dixon and Vanessa Dixon.
In a summons dated May 31, 2019, ADG United claims EG Enterprises, Astro Corporation, Mr Dixon and Mr Gregan agreed to purchase ADG United’s shares in PTP Fitness in correspondence dated between February 14, 2019 and February 14, 2019.
ADG United claims it suffered from conduct which was “oppressive to, unfairly prejudicial to, or unfairly discriminatory against [ADG United]”.
On 16 August PTP Fitness brought proceedings against Mr Goldberg in the Federal Court.
Mr Gregan retired from rugby in 2011 and has extensive business interests.
He owns 24 bars, restaurants and cafes with his wife through The Gregan Group and has interests in several startups, including nannying startup Juggle Street.
Mr Gregan was a shareholder in home ventilation business Ventis HQ which collapsed into administration in 2016.
Mr Gregan and PTP Fitness did not respond to a request for comment and Mr Goldberg declined to comment.
A direction hearing in the Supreme Court is listed for February 10, 2020.
Source: Thanks smh.com