YBR takes former lending boss Tim Brown to court following his departure

Yellow Brick Road Holdings has commenced legal proceedings in the Supreme Court equity division against Tim Brown, its former CEO of lending.

The mortgage broker announced in November he was stepping down from his position in the company effective 31 December 2016.

Executive chairman Mark Bouris said the role would not be replaced.

At the time Bouris thanked Tim Brown for his contribution to the company over two years "and wished him well for the future."

Brown had joined YBR as a result of the 2014 acquisition of Vow Financial. Brown was CEO of Vow Financial for five years.

The case gets underway tomorrow. The Trustee for the Brown Superannuation Fund is also a respondent.

A YBR spokesperson advised there would be no comment on the injunctive proceedings.