Karl Stefanovic’s podcast partner Keshnee Ibrahim wants out of their company

The relationship between Karl Stefanovic and his podcast business partner Keshnee Ibrahim has broken down to the point where the company must be either wound up or there would be a buyout, a court has been told.

The NSW Supreme Court was told on Tuesday that their relationship had “irretrievably broken down” and that Ibrahim has “no interest” in the management of the company 123 Podcast Pty Ltd, which the long-time friends formed earlier this year.

In the legal action launched this week, Ibrahim alleges Stefanovic has run the venture in an “oppressive” and “unfairly prejudicial ... or unfairly discriminatory” manner by trying to push her out of the business.

Stefanovic owns 45 per cent of the business behind the podcast, The Karl Stefanovic Show. Ibrahim and her husband Jason Ibrahim also own 45 per cent, while Stefanovic’s agent and accountant Anthony Bell owns the final 10 per cent.

The court was told a director’s meeting scheduled for Friday would no longer go ahead and the parties had agreed to have the company valued as of August 7, which was “before the majority of the conduct complained about occurred”.

The precise significance of the August 7 date was not revealed in court.

Stefanovic’s barrister Samuel Murray said he anticipated there would be “lay evidence” contesting some of the matters before that date and “how things have gotten to where they are”.

Justice David Hammerschlag said the dispute was “obviously something that should be settled if it can be settled” and suggested the parties resolve it themselves if possible.

Originally published as Karl Stefanovic’s podcast partner Keshnee Ibrahim wants out of their company