12 Month Garden Leave Upheld As Reasonable By UK Courts
In November 2013, the English High Court held in JM Finn & Co Ltd v Holliday ([2013] EWHC 3450) that a garden leave covenant of 12 months' duration was reasonable in circumstances where a client base needed to be secured.
Facts
Holliday had been employed by stockbroking firm, Finn & Co, as an investment advisor from 1999 until his resignation in July 2013. In his role, Holliday managed investment funds of £200m. Following his resignation, Finn & Co exercised an express contractual right to place Holliday on garden leave and sought to hold him to his 12...
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