Former Co-op boss to receive part of £3.5m award while appeal continues - Jersey Evening Post
by Christie Bailey · Jersey Evening PostPosted inNews
Former Co-op boss to receive part of £3.5m award while appeal continues
by Christie Bailey 14 May 202613 May 2026
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THE former chief executive of the Channel Islands Co-op will receive £600,000 of his £3.5 million compensation award immediately to help pay legal bills, repay loans from his parents, and continue fighting the case through the appeal courts.
The Royal Court ordered the payment despite the Co-op’s ongoing appeal against last year’s ruling in favour of Colin MacLeod.
The former chief executive was awarded more than £3.5 million after the court found Co-op directors had “acted in bad faith” and caused him psychological injury.
Payment of damages had been frozen pending appeal, but the Royal Court has ruled now that Mr MacLeod should receive £600,000 of the payout within 14 days.
The court heard Mr MacLeod owed around £240,000 in legal fees and had borrowed £300,000 from his father to support the litigation and living costs.
The Co-op opposed the application, arguing there was a risk it would not recover the money if it later won the appeal.
But Commissioner Matthew Thompson ruled that Mr MacLeod’s Jersey home provided sufficient protection because its value far exceeded the amount being released.
Mr MacLeod has also formally undertaken not to sell or mortgage the house before the appeals are resolved.
The former chief executive had originally sought £740,000, but the court approved a reduced payment of £600,000 as “an appropriate balancing exercise”.
However, requests to allow repayment of interest allegedly owed to Mr MacLeod’s parents on the family loans were refused.
The court also declined to order regular quarterly payments while the appeal process continues.
The wider appeal against the original damages award is due to take place later this month.
If the Co-op’s appeal is successful, Mr MacLeod will have to pay the £600,000 back to the retailer.
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