Updated 6:51am 1 June 2012

Liverpool dance company Cream directors in new cash row

A FRESH legal battle has erupted between the two business partners who launched Liverpool’s dance company Cream.

Stuart Davenport and James Barton are already locked in a struggle over the price of Mr Davenport’s shares in the company.

Now, it has emerged a new disagreement could end up in Liverpool’s County Court.

Mr Davenport claims he is owed up to £27,000 interest from Cream Holdings from the sale of the company’s original offices on Slater Street.

The 62-year-old says he took out a director’s loan in 1993-94 to acquire the building in the former Mello Mello bar.

Mr Davenport and Mr Barton became 50/50 Cream shareholders and directors in 1997 before, in 2001, Ingenious Ventures Limited put a £5m stake in for a 48% share.

When Cream Holdings was formed, the Slater Street premises became the property of the Liverpool company.

In August 2004, Mr Davenport was “removed as a director” which has led to the legal fight at London’s High Court over the value of his shares.

He says the Slater Street base was sold by Cream to property company Frensons in 2004 for around £175,000.

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