State's biggest business bust-ups of 2020 It was a year that tested businesses to the limit and as expected 2020 had its fair share of heavy-hitting Queensland business bust ups and defections. Business by Emmaline Stigwood Premium Content Subscriber only In a year that tested businesses like no other, 2020 saw plenty of executives switching allegiances, long-term business buddies breaking up and some major legal disputes hit the headlines.
SURF'S OUT One of the biggest lawsuits of the year came when Billabong founder Gordon Merchant sued top tier tax firm EY for $58m. Mr Merchant, the Gold Coast surf lover who founded Billabong in 1973, filed a Supreme Court action outlining how following tax advice for a company sale in 2015 had allegedly ended with him being pursued by the tax office, penalised about $13m and banned from running his self managed super fund.