06 February 2025: 08:30 GMT
In a legal tussle between Dare and two former employees (Soliman and Hikmet), traders supposed to join Onyx, the High Court judgement makes it clear that the judge found “no evidence that [Mr Soliman] performed any preparatory work for Onyx”, though concluded that Mr Hikmet “breached his contract of employment [with Dare] in a number of ways”. The judge determined that Soliman’s start date will be unaffected and Hikmet’s start date is delayed. Quoting: “I grant injunctive relief against D2: he is ordered to comply with the non-competition restraint until 11 July 2025 and is restrained for a further period of one month (that is, until 11 August 2025) from taking up employment with Onyx.” Damages, if any, will be addressed at a hearing at later date, the judgement said. The judgement also said: “I dismiss the claims for unjust enrichment against both Defendants”, referring to Soliman and Hikmet.
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
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