CANTOR FITZGERALD EUROPE AND ANOTHER v. JASON JON BOYER AND OTHERS

CANTOR FITZGERALD EUROPE AND ANOTHER v. JASON JON BOYER AND OTHERS

Plaintiffs failed to prove coordinated procurement or concerted breaches of fiduciary or fidelity duties; Hong Kong Employment Ordinance mandatory provisions applied to employees engaged in Hong Kong notwithstanding an express foreign governing law choice and entitled employees to terminate by payment in lieu, restrictive covenants as drafted were generally unenforceable for being overbroad or of unreasonable duration or ambiguous, Cash AD was valid and repayable by Boyer, and specified payments in lieu were ordered for Ainslie and McGonegal.

Citation
CANTOR FITZGERALD EUROPE AND ANOTHER v. JASON JON BOYER AND OTHERS
Parties
1st Plaintiff: Cantor Fitzgerald Europe; 2nd Plaintiff: Cantor Fitzgerald (Hong Kong) Capital Markets Limited; 1st Defendant: Jason Jon Boyer; 2nd Defendant: Bradford Ainslie; 3rd Defendant: Brett McGonegal; 4th Defendant: Uwe Henke von Parpart
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
29 February 2012
Case Number
HCA1160/2011
Procedural Posture
Civil Employment and Fiduciary Duties (high Court, Court of First Instance) / Judgment (29 February 2012)
Outcome
Judgment: majority of plaintiffs' claims dismissed; specific monetary and procedural orders made in favour of employers and defendants as set out.
Legal Topics
Resignation, Secondment, Non Solicitation, Non Compete, Payment in Lieu of Notice, Liquidated Damages, Bonus Loan (cash Ad), Legal Professional Privilege, Accounting for Sums
Source Language
EN
Employment Law Fiduciary Duties Restrictive Covenants Contract Law Injunctions Labour Tribunal Transfer Resignation Secondment +7 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 5 Authorities cited 6 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

Cantor Fitzgerald Europe

1st Plaintiff

Cantor Fitzgerald (Hong Kong) Capital Markets Limited

2nd Plaintiff

Jason Jon Boyer

1st Defendant

Bradford Ainslie

2nd Defendant

Brett McGonegal

3rd Defendant

Uwe Henke von Parpart

4th Defendant

Procedural Posture

Civil Employment and Fiduciary Duties (high Court, Court of First Instance) / Judgment (29 February 2012)

Legal Issues

  1. 1 Whether defendants breached duties of fidelity or fiduciary duties by procuring or acting in concert to resign and join competitor
  2. 2 Whether defendants failed to disclose approaches or intention to join competitor under contractual clauses
  3. 3 Whether defendants conspired to injure employer by unlawful means

Ratio Decidendi

Plaintiffs failed to prove coordinated procurement or concerted breaches of fiduciary or fidelity duties; Hong Kong Employment Ordinance mandatory provisions applied to employees engaged in Hong Kong notwithstanding an express foreign governing law choice and entitled employees to terminate by payment in lieu, restrictive covenants as drafted were generally unenforceable for being overbroad or of unreasonable duration or ambiguous, Cash AD was valid and repayable by Boyer, and specified payments in lieu were ordered for Ainslie and McGonegal.

Court Disposition

Judgment: majority of plaintiffs' claims dismissed; specific monetary and procedural orders made in favour of employers and defendants as set out.

Orders

  • Boyer to pay US$400000 as payment in lieu of notice to CFE
  • Boyer to pay US$425793.23 as outstanding balance under the Cash Advance Distribution Agreement as at 30 May 2011