Former Mike Pero broker banned
Christchurch-based Heath chose not to renew his Mike Pero franchise agreement when it expired on June 30 this year and attempted to then set up a new business, even though he knew about the restraint of trade clauses in his agreement.
Those clauses stopped him from being a mortgage adviser within New Zealand for six months and within Christchurch and Canterbury for two years after the agreement was terminated.
Mike Pero sought, in June, an urgent injunction in the Auckland High Court to restrain Heath and his de facto partner Gina Smith from setting up a new business after it discovered the pair had been planning to start a new firm, James Heath Mortgages Ltd.
Justice Simon Moore had little hesitation in granting Mike Pero interim relief before the case goes to a full hearing.
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