'Too drunk to remember new job'

A CITY broker is being sued for £200,000 after claiming that he had been too drunk to remember signing a two-year contract for a new job and so would not be joining in December as planned.

Ian Taylor signed his contract in a pub after he had 'consumed a significant amount of alcohol during the day and the early evening', according to his lawyers.

Taylor and former colleague Harvey Bissmre agreed to join money broker Prebon Yamane from rival Martin Brokers to establish a new trading desk to sell Australian, Canadian and Far Eastern financial products.

Their contracts were drawn up last September and ten days later Taylor and Bissmre met Prebon Yamane directors Andrew Berry and Robert Osborne to sign up.

Taylor's contract paid a basic £100,000 a year plus bonus and included a clause that he would pay it all back if he failed to join the company. In January, Taylor's lawyers informed Prebon Yamane that 'as he was clearly under the influence of alcohol when he signed the contract, the terms will be unenforceable'.

But Prebon Yamane claims in a High Court writ that Berry, Osborne and Bissmre 'did not gain the impression from either his actions and/or speech that he was intoxicated or under the influence of alcohol to the extent that he was unaware of his actions'.

Chief executive Tony Verrier said: 'We feel that people should honour the contracts they sign. I certainly met him after he signed and he was committed to joining us. He seemed very sober to me.'

The writ alleges that Taylor visited Prebon Yamane's offices after he signed contracts. Bissmre is still joining Prebon, which is being acquired by rival Collins Stewart Tullett.

Prebon is also suing Martin Brokers for inducing Taylor to breach his agreement. David Hagan, chairman of Trio Holdings, which owns Martin Brokers, said: 'We totally refute the claim, which will be defended in full.'