Private equity fund offers car tycoon €1.1m to settle claim over investment cash

Big Motoring World founder Peter Waddell says Freshstream made him forfeit sum as it saw him as a nuisance

A private equity company accused of ousting a multimillionaire used car salesman from his own business has offered to pay 1.1m (950,000) to settle a separate case with him.

Peter Waddell filed his first high court claim against Freshstream last year, alleging that the investment firm used an independent investigation into contested sexist, racist and abusive comments as a means of securing [his] exclusion" from his used car empire, Big Motoring World. Freshstream had acquired a one-third share in Big during 2022.