The former co-head of Barings’ Global Private Finance Group has failed in his bid to block a £6.3m lawsuit from his previous employer.
Adam Wheeler, now co-CEO of Corinthia Global Management, is alleged to have orchestrated a team move from Barings to Corinthia in 2023/2024, which Barings has claimed was in breach of contract and fiduciary duty.
However, Wheeler countered that Barings’ claims are ‘abusive’ and ‘bound to fail’ because it ‘adopted fundamentally inconsistent positions’. He also argued the group has not suffered the loss it claimed in damages.
Having applied to strike out the claim on 17 June, the defendant’s application was dismissed by the High Court yesterday (22 September).
High Court judge Thomas Linden concluded: “My provisional view is that it is likely to be useful for Mr Wheeler to plead his case and for the claim to proceed to the close of pleadings. This will enable the issues in relation to the claims against him to be identified and may ultimately assist settlement.
“However, I am willing to give the parties an opportunity to agree a position or, absent agreement, to make submissions as to whether there should be a stay and, if so, the terms of any stay.”
