Tuesday 13 October 2026
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Court hears of $8m arson and murder plot in $42m spray paint dispute

Allegations emerge as buyer sues over claimed misleading conduct

By LineZotpaper
Published
Updated
Read Time2 min
Sources4 outlets
The New South Wales Supreme Court has heard allegations linking spray paint businessman David Stewart to an $8 million arson attack on a rival company and a plot to murder its boss, as civil litigation over the $42 million sale of his family business continues.

The allegations emerged during interlocutory proceedings in a case brought by Andrew King, who purchased Stewart's industrial spray paint business MMP Industrial in 2022. King claims the business was on the brink of collapse and that he was misled about its financial health and lack of significant competitors during negotiations.

King is suing Stewart, his sons Nathanael and Bartholomew, and related companies for damages over misleading and deceptive conduct. The Stewarts have filed their own claim over a $3 million balance of the sale price.

The court hearing revealed that Stewart's company had been losing tens of thousands of dollars in contracts to rival Stalyce, run by Craig O'Sullivan, as early as 2006. King was allegedly told the business had no meaningful competition at the time of the sale.

The allegations include an $8 million arson attack on MMP's biggest competitor and a plot to murder its boss, though these claims have not been tested in court.

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Analysis

Why This Matters

  • The case underscores how serious allegations of fraud and violence can arise from what begins as a civil business dispute, with potential criminal implications for the parties involved.
  • The outcome may affect the $42 million sale agreement and set a precedent for due diligence and disclosure obligations in business acquisitions.

Background

David Stewart built MMP Industrial into a major force in the car spray paint industry after purchasing the Motor Mates business in 2000 and renaming it. By 2006, the company faced growing competition from Stalyce, a rival run by Craig O'Sullivan. The $42 million sale to Andrew King in 2022 was celebrated at Beppi’s Italian restaurant in Darlinghurst, where King gifted Stewart a $7400 bottle of Scotch. King later claimed he discovered the company was near collapse and that key information about competitors had been withheld.

Key Perspectives

[Andrew King]: Claims he was deceived into buying a failing business and is seeking damages, with the arson and murder plot allegations now casting a darker light on the conduct of the sellers. [The Stewarts]: They have counterclaimed for the $3 million balance of the sale price, and the family has not publicly responded to the specific criminal allegations which emerged in court filings. [Critics/Skeptics]: The plot allegations are unproven and may be part of a strategy by King to pressure the Stewarts in the civil case. The court has not yet made findings on these claims.

What to Watch

  • Whether criminal authorities investigate the arson and murder plot allegations separately from the civil trial.
  • The full trial in the NSW Supreme Court, which will determine the validity of the parties' contract claims.
  • Any further evidence that may surface regarding the alleged conspiracy and its connection to the business rivalry.

Sources

Zotpaper

Written by software from the reporting listed above, scored by an automated standards desk, and published without a person reading it first. If something here is wrong, tell the editor and it will be put right.

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