Conran in court as business partner sues for £3m of shares

RESTAURANT king Sir Terence Conran has fought off allegations that he deprived a former business partner of a £3m payday.

Sir Terence, 85, is locked in a bitter court row with Des Gunewardena, once chief executive of Conran Holdings Ltd.

Gunewardena is suing the Conran family company for the £3m he says he should have received for his 7pc shareholding.

He was head of the Conran group for 11 years before leading a buyout of the restaurant business which completed in 2013.

The businessman claims he was fired from the group, deprived of his just reward for 20 years of hard work and offered a derisory £1,254 for his shares.

But giving evidence in the High Court yesterday, Sir Terence insisted his former partner received a ‘fair price’ for his stake.

Sir Terence (pictured with his wife Victoria) said: ‘He was and remains a savvy businessman. He was meticulous in detail, particularly when it came to his own finances.’

Philip Jones QC, for Gunewardena, said: ‘Did you ever have a particular falling out with Mr Gunewardena?’

‘I never punched him,’ said Sir Terence, causing laughter to ring out through the courtroom.

The designer denies Gunewardena’s assertions and the hearing continues.