Mon 22 Nov 2010 09:26

BP ordered to return items to former traders


Court ruling orders oil major to return seized items to former members of its fuel oil and marine fuels trading teams.



BP Plc has been ordered to return all items it took from its former fuel oil traders in a Singapore court ruling.

The decision is part of an ongoing trial involving six former members of BP's fuel oil and marine fuels trading teams who were sued by the oil major for breach of contract. BP claimed they wrongfully downloaded and misused confidential company information, helping rival Brightoil set up a rival business in the city-state.

In addition to the order to return all items to the former traders, the court ruling also ordered a separate hearing on costs and damages to five of the six traders - one of the six applications for the so-called Anton Piller Order (APO) to be set aside was not granted.

Commenting on the ruling, the traders said in a statement: “The court’s ruling vindicates their stand that the APOs were taken out for unlawful reasons, and that the plaintiff had failed to disclose material facts to the court when the APOs were obtained in the first place.”

BP spokesperson Robert Wine is quoted as saying in a statement: “The orders reflect the court’s recognition of the need in this case to protect BP’s confidential information and to prevent the destruction of evidence, whilst balancing competing interests.”

BP's former global fuel oil trading head, Quek Chin Thean, the ex-head of its marine fuels business in Asia, Clarence Chang, senior trader John Foo and former executive assistant Laura Kuan countersued BP in August cliaming that they were wrongly dismissed and were owed an unspecified amount of money by BP.

The two other former members of staff, senior trader Paul John Bradshaw and legal manager Simon Cheong did not file counter claims.

All six of the former BP employees were hired by Brightoil together with other ex-BP staff. The group are understood to have accepted a signing bonus from the Hong Kong-listed firm, but deny misusing confidential BP information.

In its lawsuit BP said Quek and Cheong masterminded the departures of the 20 staff and carried out negotiations with Brightoil whilst they were still employed by the oil major, a claim both men have denied.

In court papers Quek said that at least 40 employees have left BP’s Asian trading operations this year and that the record loss in the second quarter following the Gulf of Mexico oil spill could have prompted some workers to leave BP.

Policy changes on the trading floor and a change in the way bonuses were paid were also quoted as possible reasons for the wave of departures.

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