Commerzbank Bonus Dispute Continues
Wednesday, 04 November 2009 17:46
It is reported in the Financial Times today that Commerzbank has filed its defence in the claim brought by 80 plus former Dresdner Kleinwort (DK) employees over alleged non-payment of bonuses. The dispute concerns a bonus pool of 400mn Euros that was apparently set aside by DK’s former owners. Commerzbank says the claim against it is “misconceived” and that the employees involved were only entitled to be considered for a discretionary bonus and that was not a commitment to pay anything at all. That is the usual argument put forward by banks in this situation.
We are following this case with interest and will keep you updated here on our website.
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