eisa: Brady gagged as lawyers move in

Eisa chief executive Damien Brady says he has been barred from talking with the press.

Brady was recalled from a Queensland holiday on the weekend for consultations with eisa's chairman and lawyers following the appearance of a BRW article.

The story alleged that eisa's attempt to buy OzEmail for $325 million was surreptitiously undercut by UUNet and OzEmail executives, despite the $20 million down payment and promises of cooperation. Eisa is now suing to recover the money. Brady, who was quoted in the article, says he is under a gag order for at least two weeks following legal discussions. "All sides have agreed to refrain from making comments to the press for that period."

Based on what it calls confidential emails and legal letters, the BRW article alleges that some senior OzEmail executives placed obstacles in the way of the deal. Singled out for mention were OzEmail general manager Justin Milne and former UUNet Asia-Pacific chief executive David Spence. A spokesperson for OzEmail declined to comment on the allegations.

The $20 million non-refundable deposit was paid by eisa on February 10 to secure a period of exclusivity during which it was to raise the balance of the purchase price. The deal ultimately collapsed in early June when potential financial backers pulled out.

Since then regional pay TV company Austar United Communications has launched a $25 million takeover bid that values eisa near its current share price of just over 20 cents, or just 7 per cent of its March 10 high point.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Peter Young

PC World
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?