views

Tullett, BGC return to High Court after evidence from City veteran Terry Smith

THE High Court battle between inter-dealer brokers Tullett Prebon and BGC Partners will resume today after a weekend in which the court was left to ponder evidence given on Friday by colourful City veteran Terry Smith.<br /><br />Smith, Tullett&rsquo;s chief executive, who denied calling his former chief operating officer Tony Verrier a &ldquo;dead gladiator&rdquo; and saying he wanted to &ldquo;bury him alive&rdquo; under cross-examination, gave evidence on just one day of the trial, which is expected to last until early next year.<br /><br />One of his right-hand men at Tullett &ndash; James Potter, a manager in the forward cable division &ndash; will be on the stand today.<br /><br />Tullett has accused its rival of orchestrating a campaign to damage its profitability by attempting to poach over 50 of its key staff and conspiring to persuade them to breach the terms of their contracts, after BGC recruited Verrier in January this year.<br /><br />BGC has countered that case with a claim of its own that Tullett persuaded a number of brokers who had signed up to new contracts to remain in their old jobs.<br />