AN application by BCP Asset Management to restrain MMI Stockbrokers, MMI Asset Management and three former BCP employees from using certain allegedly confidential information in their new jobs with MMI was adjourned for a week in the High Court.

BCP sought the injunction against MMI and three former BCP employees, Mr Kevin O'Shaughnessy, Mr Keith Jordan and Mr Brian Tyrrell. BCP did not seek an injunction against two other former BCP employees, Mr Ian Lawrie and Ms Marie Ainsworth, although all five have either left BCP to join MMI or have given in their notice.

MMI will strongly contest BCP's claims that it is in the possession of confidential information, and MMI chief executive Mr Oisin Fanning said yesterday that an affidavit had been sworn to this effect. Yesterday's adjournment was given at the request of BCP.

The five former BCP employees were involved in that company's section 25 film financing and BES investments for private clients. They were hired by MMI to set up a subsidiary, MMI Asset Management, 19 specialise in tax based investment for private investors.