ABN Goes To Court Over Fund Managers

Thomas and Luckraft resigned in March and signalled their intentions to go work for rival Framlington. All appeared amicable and the two agreed to serve out their 12 month notice period.

All hell broke out last week, however, when the angry pair left, claiming 'irrevocable breakdown' in their relationship with the bank. They then announced that they intended to start work with Framington immediately. Their new firm expressed surprise about the new situation.

ABN fought back over the weekend and obtained a court order barring the two fund managers from working for their new employer. The court injunction has now been lifted as both Thomas and Luckraft have undertaken to honour their contracts and refrain from working with Framlington until the issues are resolved legally.

The matter will now go to trial unless a compromise arrangement can be worked out.

It remains unclear exactly what triggered the bust up at the bank and, in all probability, the matter will be quietly sorted before more damage is done to each party.