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Technology investment – latest developments

United Kingdom - December 17 2012 Following the credit crunch, technology investment has held up relatively well. 

Security trustee’s duties to mezzanine lenders on enforcement clarified by the High Court

United Kingdom - November 23 2012 In Saltri III Ltd v MD Mezzanine SA Sicar & Ors [2012] EWHC 3025 (Comm), the High Court held that a security trustee under an inter-creditor agreement owed duties to the mezzanine lenders that were equivalent to those owed by a mortgagee to a mortgagor, which were not fiduciary duties.

Employment contracts - reasonableness of restrictive covenants

United Kingdom - November 21 2012 In the recent case of Patsystems Holdings Limited v Neilly [2012] EWHC 2609 (QB) the High Court has confirmed the principle that the reasonableness of a restrictive covenant in an employment agreement must be judged at the time the covenant is entered into and not at the time when the employer seeks to enforce it.