He’s back. Just when giant financial services group AMP didn’t need any more headaches, lawyers for Paul Batchelor have told the embattled financial services company that he intends to pursue legal action over his termination as chief executive in September last year. The issue of Batchelor’s termination has been up in the air since March, when AMP hand-delivered a $1.4 million cheque to his Mosman home, net of $700,000 tax. AMP’s chairman, Peter Willcox, effectively dared Mr Batchelor to take legal action if he felt he was worth more.

Now, AMP’s 600-page demerger explanatory memorandum discloses on page 85 that Mr Batchelor “proposes to commence legal proceedings against AMP in relation to his employment in September 2002”, although no proceedings have yet commenced.

Mr Batchelor, who was yesterday attending to his Hunter Valley winery, was not contactable.

There had been speculation that Mr Batchelor was hoping to collect as much as $18 million after he was replaced by Andrew Mohl last year at the height of the company’s British capital problems, but no claim figure was mentioned in the memorandum.

Mr Batchelor indicated the $1.4 million sum paid to him by AMP was not enough, but this latest disclosure is confirmation for the first time that he will contest the matter.

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