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Cantor and Drummond in Talks to Settle U.K. CantorCO2e Lawsuit
2010-07-26 14:10:18.854 GMT
By James Lumley
July 26 (Bloomberg) -- Cantor Fitzgerald LP and the former
head of its carbon credits brokerage are in discussions to
settle a lawsuit involving a $2 million loan and an unfair
dismissal claim.
Judge Michael Burton agreed to a request from the parties
to halt the week-old trial in London until tomorrow, according
to a court official.
Cantor is suing Stephen Drummond, a former executive at
CantorCO2e, in London for the return of the money it says it
loaned him while he was running the unit. Drummond countersued,
claiming he was wrongfully dismissed in 2009 for failing to tell
the company he was in talks with a competitor about a job.
Cantor will give "an appropriate statement at the
appropriate time," the company said in an e-mail. Both Drummond
and his law firm, Fladgate LLP, declined to comment.
The cases are: Cantor Fitzgerald LP v. Stephen Drummond and
Stephen Drummond v. CantorCO2e Limited.
For Related News and Information:
Bloomberg energy stories: TOP NRG <GO>
Carbon-dioxide emission permit prices: EMIT <GO>
For top legal stories TLAW <GO>
Legal news and filings: BLAW <GO>
--With assistance from Mathew Carr in London. Editors:
Christopher Scinta, Anthony Aarons.
To contact the reporter on this story:
James Lumley in London at +44 20 7073-3684 or
Jlumley1@bloomberg.net
To contact the editor responsible for this story:
at +44-20-7673-2227 or aaarons@bloomberg.net.
