Property executive Jack McGougan has resolved a million-dollar unlawful dismissal case against the country’s largest super fund, Australian Super.
Mr McGougan, a well-regarded industry veteran who was the former head of property at the fund, accused its top super officials of pressuring him to invest in the industry’s ISPT property development fund.
The executive claimed he was forced out of his $500,000 a year job after he complained about conflicts of interest and opposed moves by chief investment officer Mark Delaney and director Brian Daley to invest in ISPT.
The unlawful dismissal case was lodged in the Federal Court of Australia in September last year.
Court documents show the case went into mediation in March and, following two subsequent mediation sessions, was “finalised-resolved” late last month.