Winkworth's High Court dispute with Simon Agace has been paused for a month as both sides pursue a settlement. M Winkworth plc confirmed that it and Agace have agreed a consent order, which the High Court has now sealed.
Under the order, undertakings previously given by Agace will remain in force until the dispute is resolved or the court orders otherwise. The parties are now holding discussions aimed at reaching a settlement.
Court proceedings stayed
As a result, the court has stayed further proceedings for one month and adjourned a hearing scheduled for 5 October. The hearing can return after the stay expires, subject to at least seven days' notice, or following a further court order. Winkworth said it would provide further updates when appropriate.
Board review under way
Separately, Winkworth has appointed an external advisory firm to conduct an independent review of its board and corporate governance arrangements. The company expects to receive the full findings within the coming weeks.
Winkworth said it has already received initial recommendations covering the composition of its board and its governance arrangements. The board is now considering its overall make-up as part of longer-term succession planning. This includes the balance of independence across the non-executive chair and non-executive director positions.
Winkworth said it would consider the full findings of the review alongside its succession plans once it receives the report.
