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Construction of contract: whether 3i's departing employee a "competing leaver" - Bishop v 3i Investments PLC [IH] 11.09.15

Employment - Financial services - Pursuer leaving defenders' employment to join another firm - During his employment, pursuer investing his own money in profit sharing funds under limited partnership agreement - Defenders stating that pursuer not entitled to benefit from those funds as he was a "competing leaver" in terms of limited partnership agreement - Pursuer seeking declarator that he is entitled to the benefit - Construction of agreement - Whether competition between defenders and pursuer's new employers - Meaning of “investment product sector” and “business line”. HELD defenders' appeal refused. The pursuer was not a "competing leaver" in terms of the agreement.

Link to judgment
Category: Employment Keyword(s): Competition; Financial services; Interpretation of contract. Area(s) of law: Employment; Corporate and Commercial Law; Banking.
Source: [2015] CSIH 66; 2015 GWD 30-499.

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