The Court of Appeal is due to hear the appeal against the High Court decision in Tullett Prebon Plc v BGC Brokers LP and others on 13 or 14 December 2010 which, among other points, considered the enforceability of post-termination covenants in the context of a team move, the use of forward contracts and the ability of an employee to withdraw his resignation once given. The key specific points of appeal are:

  • whether the attempts by Tullett to “persuade” the brokers to withdraw their resignations amounted to breaches of contracts of employment;
  • whether those attempts also amounted to unlawful procurement of breaches of contract by Tullett;
  • whether a person himself in breach is disqualified from relying on the other party’s breach; and
  • whether the party not in breach has to resign in response to the breach.

It is expected that the judgment will be issued not long after the hearing date.