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Macquarie seeks damages from advisers

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By Vishal Teckchandani
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3 minute read

Macquarie is seeking damages, equitable compensation and a restraining order against former employees Mark Minchin and Peter Simpson.

Macquarie Bank is seeking damages, equitable compensation and a restraining order against former advisers Mark Minchin and Peter Simpson.

The two advisers, along with colleagues Greg Cusack, Simon O'Brien, Dan Fitzgerald and Jenny Wong joined UBS Wealth Management in January.

Minutes handed down last week in the New South Wales Supreme Court ordered the defendants to "provide access in a manner acceptable to the plaintiff" to several memory storage devices, any personal computer belonging to either defendant and any CDs or DVDs created by either defendant between 22 and 24 December 2008.

They include the Memorex Ultra TravelDrive, any Sony storage media device and any Kingston USB device referred to in an affidavit sworn on 11 March 2009, the minutes said.

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The terms of the order said that upon the plaintiff giving the usual undertaking as to damages, the defendants must not delete anything from the devices as mentioned.

The defendants also must not take any steps or cause or permit any step that is likely to impede the recovery of data stored on the devices.

They must also refrain from communicating with any client with a view to obtaining the customer of that client for any business that is the same or similar to that part of business in which the defendant was engaged in his employment with the plaintiff.