Business

Gosling’s and former CFO resolve litigation

  • Settlement agreement: Trudie Ottolini and Gosling’s have agreed to resolve litigation on amicable terms

Rum maker Gosling’s and its former chief financial officer, Trudie Ottolini, have agreed to resolve litigation between them on amicable terms.

Gosling’s Ltd and Gosling’s Export (Bermuda) Ltd filed a complaint against Trudie Ottolini at the Supreme Court on May 16 last year.

The writ accused Ms Ottolini of making more than half a million dollars of unauthorised transactions in a three-week period to various overseas entities.

It further claimed that Ms Ottolini had changed resolutions relating to company bank accounts linked with HSBC giving herself sole authorisation to make the payments. The writ stated that Ms Ottolini had breached her employment contract which required her to not act dishonestly.

In the writ, Gosling’s claimed damages, interest, further relief and costs.

Details of the complaint were reported by The Royal Gazette in June last year.

In a press release, Gosling’s stated: “The parties have agreed to resolve the litigation between them on amicable terms.

“Gosling’s can confirm that at no time was Ms Ottolini being accused of any fraudulent conduct relating to the banking transactions referred to in the article, nor was it meant to be conveyed that she was dishonestly involved in the transactions, which were related to a cyber fraud.”

Gosling’s also said that all further terms of the settlement agreement “are to be kept confidential pursuant to the settlement agreement as approved by the Supreme Court of Bermuda”.

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