Former Tyndall Asset Management staff allege Yarra Capital breached contracts and failed to pay share compensation
Seven former Tyndall Asset Management employees have accused Yarra Capital of improperly terminating a multimillion-dollar compensation agreement when it abruptly shut the 36-year-old firm last year.
The staff have claimed Yarra unfairly bypassed key terms in contracts with Tyndall employees and used its board seats to deliberately do so, in an acrimonious end to the relationship between the two fund managers that began in 2021 after Yarra bought the business and revived the Tyndall brand.
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