High Court Showdown: Ousted Car Tycoon Battles £200M Empire After 'Coup' Allegations and 'Offensive' Comments
Multimillionaire Peter Waddell, founder of Big Motoring World, is suing his company and private equity firm Freshstream after being ousted as CEO following allegations of gross misconduct. Waddell claims his removal was an orchestrated "coup" and that his disabilities were ignored, while the defense asserts his dismissal was lawful due to egregious behavior. The high-stakes trial, involving claims of racism, sexism, and bullying, continues as Waddell seeks reinstatement and control of his business.
Peter Waddell, the multimillionaire founder of Kent-based Big Motoring World, is embroiled in a high-stakes legal battle at the High Court, challenging his removal as chief executive of the £300m company. Waddell, 59, who remains the majority shareholder, claims he was ousted in an orchestrated “coup” by business rivals and private equity investors, who allegedly devised a “plan” to ensure a gross misconduct investigation concluded with sackable offenses. He is suing Freshstream, the private equity firm that acquired a third share of his business, and the Big Motoring World companies, seeking reinstatement as CEO, control of the business, £375,000 for wrongful dismissal, and an order for Freshstream to sell back its shares at a discounted fair value.
Waddell's personal story is one of remarkable rags-to-riches success, having grown up in care, experienced homelessness as a teenager in Glasgow, and lacked formal education, before building Big Motoring World into Britain's second-largest second-hand car business. By April 2022, the company employed around 600 people with an annual turnover exceeding £370 million and profits of £4.66 million. Freshstream invested £72 million for a third of the business in 2022, with an option to eventually buy out Waddell’s remaining shares. However, just two years later, Waddell was removed from his role in April 2024 following an internal investigation into his conduct.
Waddell, who is deaf, dyslexic, and has autistic spectrum disorder, asserts that his disabilities were ignored during the internal disciplinary process, rendering his removal invalid and unfair. His counsel, Alan Gourgey KC, described the process as