Former Rich Lister and philanthropist Graham Tuckwell has claimed victory in a courtroom stoush with private equity backers after he was given two months to buy out minority shareholders at a 20 per cent discount to the net asset value of their holdings.

“I am happy the Jersey court upheld our view and we are able to buy their shares back at an appropriate discount and a much reduced price, as I had always contended was right,” Mr Tuckwell said in a statement.