PGC wins case against former MD

Pyne Gould Corporation (PGC) has won an employment dispute against former managing director John Duncan. The Employment Relations Authority ruled Duncan was not entitled to a bonus of two million PGC shares which would currently be worth $880,000.

It also said he was not entitled to redundancy compensation.

PGC has to pay Duncan around $4000, comprising holiday pay interest and a penalty of $2000.

Events around the bonus payment led to the departure of Duncan in April 2012 following a breakdown in trust between him and the PGC board, PGC says.