Drax’s former top lobbyist has thanked a US hedge fund founder for his support as she reached a settlement with the FTSE 250 energy company over her employment tribunal claim.
Rowaa Ahmar said Louis Bacon, the billionaire founder of hedge fund firm Moore Capital Management, had provided her with “essential support throughout this challenging time” and was a “major reason I was able to bring this action”.
People familiar with the situation confirmed that the support from Bacon was financial. Bacon did not immediately respond to a request for comment.
Moore Capital had a short position in Drax worth 0.7 per cent of its shares as of July 26 last year, according to Financial Conduct Authority data. The data shows that Moore stopped disclosing a short position above the 0.5 per cent threshold a few days later.
Ahmar had filed a claim for unfair dismissal, arguing she was ultimately let go from her role as head of public affairs after raising concerns internally about the energy company’s sourcing of biomass for power stations.
But more than a week after the tribunal case opened in London, and with chief executive Will Gardiner due to give evidence this week, both sides announced they had “reached a mutually agreeable position, without admission of liability” and were dropping the case.
In her statement this morning, Ahmar said: “I am pleased with this outcome.
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