Richard Talbot aggregated collection of records

fonds

1990-2006

Clippings, Photographs, Moving Images, Textual Records, Nonmusical Sound Recordings

9661482

24.30 metres of textual material (135 boxes)

Richard Talbot, head of the Motorists Actions Group (MAG), became a board member of National Roads and Motorists Association (NRMA) in 1990. He and his group were dissatisfied with aspects of corporate culture existing in the NRMA including high salaries for executives and alleged political connections.

When in 1994, NRMA issued a prospectus 'Share the Future' to its members proposing a demutualisation, Talbot and other NRMA director Dawn Fraser, also part of Motorists Action Group, vehemently opposed this action which resulted in a Federal Court Case (Fraser & Talbot v NRMA Holdings Ltd). The verdict, handed down by Justice Gummow, found that the prospectus contravened the Trade Practices Act and misled members about the implications of the proposed float. This decision was upheld in principle in an appeal by NRMA in 1995.

The decision resulted in a number of fall out cases where both the NRMA and Talbot himself filed action to recuperate money lost as a result of the failed demutualisation. These cases include Talbot v NRMA Holdings Ltd. 1995; NRMA Holdings Ltd. v Allen Allen & Hemsley, Abbott Tout and Heydon QC, 1995-1996; NRMA Ltd. v Morgan, 1999.

In 2000, NRMA proposed a second demutualisation which involved splitting the organisation in two. NRMA Ltd. would continue to provide roadside assistance, motoring advice and remain a mutual association, whilst the insurance arm, NRMA Insurance Limited would become a public company. Talbot challenged this proposal in the Supreme Court NSW (NRMA Ltd and NRMA Insurance Ltd, 2000) claiming that the proposal was a breach of the Corporations Act. However he was unsuccessful and the NRMA went on to formally demutualise in August 2000.

Following NRMA's split, Talbot continued to serve as a director from 2001-2003 and 2005-2006 and challenged the board and executive on a number of issues including a push to re-establish a mutual insurance service and allegations of an improper board election in 2003. Talbot was removed from the NRMA board in 2006 after he sent a letter to the community and NRMA members endorsing the services of Budget Direct Insurance (BDI).

References:
Compiled from the collection
On the road, The NRMA's first seventy-five years / Rosemary Broomham. St Leonards, NSW: Allen and Unwin, 1996

COLLECTION 1:
Richard Talbot personal papers as Director of the National Roads and Motorists Association (NRMA), 1990-2006