Lawyered up CBRE Australia sees veteran Rick Butler as a "threat"

Lawyered up CBRE Australia sees veteran Rick Butler as a
Lawyered up CBRE Australia sees veteran Rick Butler as a "threat"

Former veteran CBRE agent Rick Butler has refuted CBRE's claims that he and his company, Richard Butler Property Advisors had allegedly "conducted business that breached confidentiality agreements with CBRE".

It was his first comments since it emerged last week that CBRE has commenced legal action seeking "substantial damages."

Despite being at the firm for 27 years, Mr Butler said he was actually retrenched in August last year.

He said he had always complied with all of his obligations to CBRE during and after his employment and would be defending his reputation.

"At 66 it's encouraging that a giant international corporation like CBRE now sees me as a threat," he told The Australian Financial Review 

"I'm grateful for the support of many clients.

"In my time at CBRE we were never afraid of competition and I'm not afraid of it now.

"Legal action will in no way distract me from my work," he said. 

CBRE has stood by its claims, the paper advised.

"We are confident in the strength of our case and we are prepared to proceed through the complete legal process to achieve a successful outcome," a spokesperson said. 

Butler, one of Australia's leading real estate agents and CBRE's lead conduit to offshore capital, left the firm last year.

It is understood CBRE commenced the legal battle last Wednesday, issuing a notice to Mr Butler and his company's lawyers, with plans to resolve the dispute through mediation and arbitration.

"Former CBRE agent, Rick Butler (now of Rick Butler Property Advisers Pty Ltd) provided advisory services to CBRE in 2016 which required that he and RBPA comply with contractual obligations relating to confidentiality, utmost good faith and fidelity, and acting in the best interest of CBRE," the company said in a statement. 

"In November 2016, a number of individuals, including Josh Cullen, tendered their resignations from CBRE to join RBPA."

 "CBRE has today taken the first steps in commencing action against RBPA and Rick Butler in relation to these events.

"These actions leave CBRE no alternative but to seek substantial damages."

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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