Vincent Tchenguiz has called an extraordinary general meeting of shareholders in Nicola Horlick's (above) Bramdean Alternative in an attempt to oust the board and install directors in his pay.
Tchenguiz, who via a chain of holding companies owns more than 28% of the business, was initially suspected of being behind the bid offer for the company.
Elsina Limited, which is owned by the Tchenguiz Family Trust, has called for Brian Paul Larcombe to be removed from his role as non-exec chairman of the board.
It has also called for Ceasar Anquillare, Malcolm Barton, Nicholas Moss and Michael Buckley to be ejected from their positions.
In their places it has proposed Jonathan Dodgson Carr, David Sydney Copperwaite and Mark Richard Tucker. All three have received payment from Elsina.
A statement issued by Bramdean said: ‘The board has, given current circumstances, reservations as to the ability of the new directors proposed by Elsina to be able to independently consider the options available to the company.’