New | CY Leung reportedly sought further HK$37 million in UGL deal

In a secret contract signed in December 2011 but revealed last week, UGL agreed to pay Leung 4 million pounds in two instalments in 2012 and last year. Both the Australian firm and Leung said the money was to prevent him from joining or forming a rival firm within two years. But the deal also contained an “additional commitment” by which Leung agreed to “[act] as a referee and an adviser from time to time.”

“Please find attached CY’s analysis of his contributions he’s made to the Japanese business and which he is looking to be reimbursed as part of his cooperation for the UGL deal,” Fairfax quoted an email from an associate of Leung to DTZ’s main creditor RBS as saying.

This request for a larger sum of money, which was eventually denied, almost caused UGL to walk away from the deal.

“I do have a busy and heavy schedule and a business to run and no time for negotiating games,” UGL chief executive Richard Leupen wrote in an email dated November 26, 2011 to DTZ chairman Tim Melville-Ross. “[Leung] communicates in one-liners and gives us nothing to think we are going to reach agreement.”