Sale-ready Eagle Technology faces high-figure court action

Friday 26th January 2001

TREVOR EAGLE: Died suddenly as he considered bids for his company

By Nicholas Bryant

Eagle Technology has been hit with a multimillion dollar lawsuit just as it negotiates a sale following the sudden death of founder Trevor Eagle.

Court records show Integrated Learning Technology (in receivership) filed a statement of claim in the High Court at Auckland on October 25 last year.

It named Mr Eagle, law firm Clendon Feeney, receiver Gerard Hulst, Eagle Technology general manager Craig Eagle, Advance Certification and Eagle Technology Group as defendants.

The claim, which is understood to be for millions of dollars, was principally against Eagle Technology's founder Mr Eagle, but Mr Eagle died on December 9 last year while swimming off his boat in the Hauraki Gulf.

It is believed the case will now focus on the Eagle Family Trust.

A trial date has not yet been set.

In early 1999 Eagle Technology bought the local operation of technology training company New Horizons after calling in a receiver when staff could not be paid just before Christmas the previous year.

It is understood the process of placing the company in receivership is at the centre of the legal action.

At the time Eagle Technology owned 51% of Integrated Learning Technology, a joint-venture company which managed the New Horizons franchise.

Craig Eagle, who was chairman of Integrated Learning Technology, said Eagle Technology paid staff when there were not enough funds for the payroll, called in a receiver and bought all outstanding shares.

One of the plaintiffs, Tauranga-based consultant David Simpson, said he could not comment yet, other than to say the case was "significant" and the plaintiff's silence would be broken soon.

Craig Eagle, the late Mr Eagle's son, said he could not comment on the matter as it was sub judice.

Two weeks before Christmas Craig Eagle said his father had been considering bids for Eagle Technology in the week prior to his death.

It is understood a deal to buy the company is nearing completion.

Comments from our readers

No comments yet