Confusion over Brent Walker suit

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Key institutional shareholders at Ingham, the classic car parts group, led by Jupiter Tyndall and Robert Fleming, are thought to have called for the removal of chief executive Alan Stephenson. The demands have come after the company reported a slump in pre-tax profits and a 30 per cent cut in the dividend to 3.5 pence. Discussions with the company over the appointment to the board of Gerald Davison and James Morton, the preferred candidates of the dissident shareholders, are said to be continuing.

There is confusion over the outcome of legal action in Paris brought against Brent Walker by George Walker, the former chief of the leisure company. Mr Walker has made a claim for Fr 92m (pounds 11.5m) plus interest over his purchase of four French vineyards from the company in 1989. Brent Walker said the case had been dismissed by the judge, while Mr Walker's lawyer said it had only been adjourned until the autumn.