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Article: Icap guilty of 'unlawful inducement'
- Article from:
- The Scotsman
- Article date:
- July 30, 2002
- Author:
CopyrightCopyright 2002 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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THE unsavoury legal battle between arch rival City firms Cantor
Fitzgerald and Icap over alleged poaching of staff in the wake of the
11 September terrorist attacks reached its conclusion yesterday with
both sides claiming victory.
During a 15-day hearing, Cantor lawyers accused Icap executives of
seeking to exploit the situation after hundreds of Cantor's New York
employees were killed in the 11 September terrorist attacks on the
World Trade Centre.
Yesterday Mr Justice McCombe, sitting at the High Court in London,
ruled that there was an "unlawful inducement" by Icap when the inter-
dealer broker encouraged one high-flying Cantor staff member, Luigi