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Oil Brokerage Denies ‘Toxic’ Claim, Accuses Ex-Traders of Breach

  • NE2 Group says former employees tried to poach clients
  • Firm’s turmoil has affected trading in key Canada oil contract

Oil brokerage NE2 Group is hitting back at allegations that Chief Executive Officer Tim Gunn created a toxic workplace, filing an C$11 million ($8.4 million) countersuit against eight former employees who left the firm earlier this year.

In court documents, NE2, a trading house for Canadian crude oil including the flagship Western Canada Select blend, says it was defamed as a result of allegations in a wrongful dismissal suit brought by Marc Bennett, its former head of North American energy. NE2 added the other departed employees to the counterclaim it filed this week, saying they tried to steal business from the firm.