3 weeks ago
13
It was the first but defining round of Karl Stefanovic's podcast 'divorce' and he resoundingly lost when the judge crushed his secret plan to defeat and dump business partner Keshnee Kemp.
After falling out with Kemp over the content of the podcast that they launched together, the former TV star had planned to oust the former Woolworths executive from their company at a meeting slated for 9am on Friday.
The meeting was meant to be showdown in the bitter dispute between Stefanovic and Kemp - she and Karl's wife Jasmine are childhood friends - which had fractured beyond repair.
With the support of his old mate and ten per cent shareholder Anthony Bell, Stefanovic was planning to boot Kemp as director of 123 Podcast Pty Ltd.
The Daily Mail understands that the meeting would have seen Stefanovic ganging up with Bell for a 55 per cent majority combined vote. They would replace Keshnee with the star's longtime manager Sharon Finnigan.
But on Tuesday, NSW Supreme Court Justice David 'The Hammer' Hammerschlag ruled the meeting was off the agenda and imposed an injunction against Karl holding it.
Kemp's leading media and commercial litigation lawyer Monica Allan of Blackbay Lawyers, filed a legal plea overnight on Monday which Justice Hammer upheld, 'restraining (Stefanovic, his company or the podcast company) from convening or holding the meeting proposed for 18 September.'
The injunction further restrained Stefanovic from 'calling for a vote to remove Keshnee Deborah Ibrahim (her married name) as a director'.
Karl Stefanovic has just lost the first round in his podcast 'divorce' from business partner Keshnee Kemp (above, on Tuesday) when a judge crushed his plan to wipe the floor with her in stunning secret meeting
Stefanovic (pictured with wife Jasmine and longtime manager Sharon Finnigan) was expected to replace Keshnee with Finnigan as director of the 123 Podcast company
The Daily Mail understands that Kemp brought the urgent legal action against Stefanovic moving against her in the belief that she would receive 'minimal recompense' for the company she started with him.
The proposed action to remove Kemp with the help of Bell was, she argued, before her interest in the business had been independently valued.
Celebrity accountant Bell - a longtime friend of Stefanovic as well as acting as his business adviser - owns the minority shareholding via his company Bell Resources.
He was not officially involved in the dispute, however Stefanovic's power grab was expected to tap into their longstanding alliance.
Instead, Justice Hammerschlag ordered both Stefanovic and Kemp to jointly appoint an independent expert to value the business.
Keshnee's substantive application alleging 'oppressive' conduct by Karl is listed for final hearing on October 13 2026.
A court document seen by the Daily Mail described Stefanovic's conduct dating back to August as 'unfairly prejudicial or discriminatory'.
The long term relationship with Keshnee broke down following his shock sacking from Nine's Today show on June 25.
Stefanovic (above with Kemp) planned to dump her at 9am on Friday in a sweeping vote with mate Anthony Bell which would oust her as podcast company director and he would install his longtime manager
Celebrity accountant Anthony Bell (pictured, right, in 2015 with Stefanovic,left and cricketer Michael Clarke) owned 10 per cent of the podcast company's shares and was likely to pair with the TV star to vote out Kemp
The relationship between Karl Stefanovic and Keshnee Ibrahim (pictured above with their spouses, Jason and Jasmine) has 'irretrievably broken down' since August and lifelong friends Jasmine and Keshnee have unfollowed each other on Instagram
Kemp had proposed splitting from the podcast, twice resulting in the appointment of an independent valuer for 123 Podcast. But Stefanovic backed away from progressing a valuation.
On Tuesday, Stefanovic's barrister Samuel Murray told the Supreme Court that he wished to confine his valuation to the August 7, 2026 date from when the dispute began.
This was after weeks of negotiation over that date had failed.
Monica Allan, for Keshnee Kemp, said that the podcast had originated when Karl had approached her to build and operate the business.
While he was the talent, it is understood Kemp did 'the heavy lifting', building a substantial audience, sponsorship and commercial opportunities while Stefanovic was still at Channel Nine's Today Show.
Kemp has worked in senior positions at Nine and Pacific Magazines, edited major titles owned by ACP, Bauer and Are magazines and in roles such as Woolworth's head of content.
The court heard on Tuesday that the relationship between Kemp and Stefanovic had 'irretrievably broken down' and that a buy-out of shares was an appropriate resolution, if the parties could agree on a valuer.
Justice Hammerschlag set down a hearing for October 13, but said that if the parties wanted to meanwhile attend 'some sort of mediation. I'm happy to do that. If you can't agree you can come back.'
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