Tullett Prebon Plc & Ors v BGC Brokers LP & Ors [2011] EWCA Civ 131 (22 February 2011)

Tullett Prebon Plc & Ors v BGC Brokers LP & Ors [2011] EWCA Civ 131 (22 February 2011)

The Court of Appeal held that Tullett was not in repudiatory breach of contract and did not constructively dismiss the brokers. The judge was correct to find that BGC, through unlawful means conspiracy and inducement, committed repudiatory breaches of the forward contracts with the Tullett Three, entitling them to terminate those contracts. Obligations of trust and confidence can arise under forward contracts prior to the commencement of employment, as appropriate to the circumstances.

Citation
[2011] EWCA Civ 131
Parties
Claimants/respondents: Tullett Prebon PLC & Ors; Defendants/appellants: BGC Brokers LP & Ors
Jurisdiction
England and Wales
Judgment Date
22 February 2011
Procedural Posture
Civil Appeal / Appeal From Queen's Bench Division to Court of Appeal (civil Division)
Outcome
Appeal dismissed
Legal Topics
Constructive Dismissal, Breach of Contract, Inducement of Breach of Contract, Unlawful Means Conspiracy, Employment Restrictive Covenants, Injunctive Relief
Employment Law Contract Law Tort Law Constructive Dismissal Breach of Contract Inducement of Breach of Contract Unlawful Means Conspiracy Employment Restrictive Covenants +1 more

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Parties

Tullett Prebon PLC & Ors

Claimants/respondents

BGC Brokers LP & Ors

Defendants/appellants

Procedural Posture

Civil Appeal / Appeal From Queen's Bench Division to Court of Appeal (civil Division)

Legal Issues

  1. 1 Whether Tullett was in repudiatory breach of contract amounting to constructive dismissal of brokers
  2. 2 Whether BGC induced the Tullett Three to breach their forward contracts with BGC
  3. 3 Whether obligations of trust and confidence arise under forward contracts prior to commencement of employment

Ratio Decidendi

The Court of Appeal held that Tullett was not in repudiatory breach of contract and did not constructively dismiss the brokers. The judge was correct to find that BGC, through unlawful means conspiracy and inducement, committed repudiatory breaches of the forward contracts with the Tullett Three, entitling them to terminate those contracts. Obligations of trust and confidence can arise under forward contracts prior to the commencement of employment, as appropriate to the circumstances.

Court Disposition

Appeal dismissed

Orders

  • BGC's appeal on all grounds dismissed
  • Permission to appeal on renewed grounds refused