BoQ franchise brawl escalates
BANK of Queensland told potential franchisees in NSW it wanted to make them “millionaires”, only to later terminate the contracts for two owner-managed branches (OMBs), court documents allege.
A nasty dispute between the bank and a group of ex-franchisees in the bank’s most important state outside Queensland has escalated, with the joint owners of the Maroubra Junction and Hurstville OMBs in Sydney suing BoQ and three senior executives, including chief executive David Liddy and retail bank boss Donna Quinn.
The case, launched last week in the Industrial Court of NSW, is likely to probe any links in the remuneration arrangements for Mr Liddy and Ms Quinn to the OMB expansion interstate.
This is the third case to allege unconscionable conduct by the fast-growing lender.
Further cases are believed to be in the pipeline.
A BoQ spokesman said yesterday the bank would “vigorously defend” all three actions.
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