(Bloomberg) -- Australian billionaire Richard White has reached an out of court legal settlement with an alleged former lover who he was pursuing for bankruptcy.
A notice of discontinuance was filed with the Federal Court of Australia late Monday, the court’s website shows. The case was settled out of court on Friday, according to a representative in barrister Bridie Nolan’s office, who asked not to be named because they aren’t authorized to speak publicly. Nolan was representing wellness entrepreneur Linda Rogan, who White had filed bankruptcy proceedings against.
White, the chief executive officer of WiseTech Global Ltd., has been at the center of revelations from the court case for the past three weeks that have gripped Sydney’s business elite.
Helen Karlis, a representative for White’s lawyers, didn’t reply to a voicemail seeking comment on the settlement.
White, worth $8.2 billion according to the Bloomberg Billionaire Index, had been attempting to push Rogan — with whom he is alleged to have had a sexual relationship — into bankruptcy, according to the Australian Financial Review. Earlier this month, she applied to have the bankruptcy notice set aside. In an affidavit, she alleged White expected her to have sex with him in exchange for an investment in her business.
Scrutiny of White intensified Monday when WiseTech’s board said it’s reviewing “the full range of matters” raised in fresh media reports about separate matters concerning White’s alleged historical inappropriate behavior. The company’s shares plunged 15% Monday.
The stock fell a further 3.2% early Tuesday, before erasing the loss after news of the settlement broke, to be trading up 1.2% at 12:40 p.m. in Sydney.
--With assistance from Angus Whitley.
(Updates to show the settlement was reached out of court.)
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