Fat cat victory: Bankers win £42million in unpaid bonuses after High Court battle
Win for 104 London investment bankers
Case brought by ex-employees of Dresdner Kleinwort against new German owner Commerzbank AG
Claims ranged from £12,000 to £1.6million
Commerzbank faces legal costs up to £20million
More than 100 City bankers today won their High Court battle for £42million in unpaid bonuses from the German banking giant Commerzbank AG.
They had accused the bank of broken promises over their share of a guaranteed bonus pool announced by Dresdner Kleinwort Ltd (DKL) in August 2008.
The case comes at a time of continuing political and public anger at fat cat bank bonuses.
But Mr Justice Owen said while the subject of such bonuses was a matter of public interest, these claims depended on a contractual clause and did not involve the wider concerns in the banking industry today.
Source: Bankers win £42million in unpaid bonuses after High Court battle | Mail Online
£20 mln legal costs in a case about £42 mln, WTF?!?!
Win for 104 London investment bankers
Case brought by ex-employees of Dresdner Kleinwort against new German owner Commerzbank AG
Claims ranged from £12,000 to £1.6million
Commerzbank faces legal costs up to £20million
More than 100 City bankers today won their High Court battle for £42million in unpaid bonuses from the German banking giant Commerzbank AG.
They had accused the bank of broken promises over their share of a guaranteed bonus pool announced by Dresdner Kleinwort Ltd (DKL) in August 2008.
The case comes at a time of continuing political and public anger at fat cat bank bonuses.
But Mr Justice Owen said while the subject of such bonuses was a matter of public interest, these claims depended on a contractual clause and did not involve the wider concerns in the banking industry today.
Source: Bankers win £42million in unpaid bonuses after High Court battle | Mail Online
£20 mln legal costs in a case about £42 mln, WTF?!?!
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