Key facts
- Karl Stefanovic and Keshnee Ibrahim each own 45% stakes in the podcast company 123 Podcast.
- Stefanovic cited an "irreconcilable breakdown" in his business relationship with Ibrahim.
- Ibrahim filed an urgent court application fearing removal as a director.
- The court is considering a buyout of Ibrahim's shares by Stefanovic or winding up the company.
- A valuation date of August 7 was suggested by Stefanovic's lawyer, before alleged oppressive conduct occurred.
- The parties have agreed to a third-party valuation for the buyout.
The New South Wales Supreme Court is mediating a dispute between Karl Stefanovic and his podcast partner, Keshnee Ibrahim, over their joint venture, 123 Podcast. Stefanovic has cited an "irreconcilable breakdown" in their relationship, leading to a court hearing on Tuesday where Justice David Hammerschlag outlined two potential paths forward: either the company is wound up with a liquidator determining its value, or Stefanovic buys out Ibrahim's stake. Ibrahim had filed an urgent application to defer a meeting where she feared being removed as a director. Stefanovic's lawyer, Samuel Murray, agreed that a buyout was appropriate but disputed Ibrahim's claims of oppressive conduct. The court is considering the impact of an August 7 date, suggested by Stefanovic's team as a key point before the alleged breakdown in relations, on the valuation. Lawyers for both parties have agreed on a third-party valuer, and the judge has set a new hearing for October 13 to finalize the buyout terms.