Contracts - Keeping your word
Covenants that enforce pre-determined contractual behaviours in ex-employees may find themselves as one of the big market issues this year. Frank Morton and Daniel Preddy delineate some important recent court cases in this area
The Towergate Underwriting v Total Broker Solutions case in 2007 showed the readiness of employers in client-led industries such as broking to invest time and money in enforcing restrictive covenants.
Following an out of court settlement, Peter Cullum, executive chairman at Towergate, said: "The outcome is of outstanding significance to any professional services firm, particularly in the insurance industry where you hear all too often that 'covenants are not worth the paper they are written on.'"
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