RICHARD BISHOP AGAINST 3i INVESTMENTS PLC [2014] ScotCS CSOH_152 (17 October 2014)
Mr Bishop was not a competing leaver under the LPAs because BGF operates in a distinct investment product sector from 3i, differentiated by investment banding, and there was no actual or deemed competition between the companies.
- Citation
- [2014] ScotCS CSOH_152
- Parties
- Pursuer: Richard Bishop; Defender: 3i Investments PLC
- Jurisdiction
- Scotland
- Judgment Date
- 17 October 2014
- Procedural Posture
- Commercial Action / Judgment
- Outcome
- Declarator granted in favour of pursuer
- Legal Topics
- Interpretation of Contractual Terms, Competing Leaver Provisions, Carried Interest, Restraint of Trade
Case Brief
Summary, issues, holding and outcome
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Parties
Richard Bishop
Pursuer
3i Investments PLC
Defender
Procedural Posture
Commercial Action / Judgment
Legal Issues
- 1 Proper construction of 'competing leaver' in LPAs
- 2 Whether Mr Bishop was correctly classified as a competing leaver upon joining BGF
Ratio Decidendi
Mr Bishop was not a competing leaver under the LPAs because BGF operates in a distinct investment product sector from 3i, differentiated by investment banding, and there was no actual or deemed competition between the companies.
Court Disposition
Declarator granted in favour of pursuer
Orders
- Sustain pursuer’s first plea-in-law
- Grant decree of declarator in terms of the first conclusion
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