| Source: | All England Reporter |
| Publisher Citation: | [2012] All ER (D) 97 (May) |
| Neutral Citation: | [2012] EWHC 1189 (QB) |
| Court: | Queen's Bench Division |
| Judge: | Owen J |
| Representation | Andrew Hochhauser QC and David Craig (instructed by Mishcon de Reya) for the Anar claimants. |
| Nigel Tozzi QC and Kate Livesey (instructed by Stewarts Law LLP) for the Attrill claimants. | |
| Thomas Linden QC, Martin Chamberlain and Oliver Jones (instructed by Linklaters LLP) for the defendants. | |
| Judgment Dates: | 9 May 2012 |
Catchwords
Contract - Variation - Written contract - Claimant working for first defendant under contract of employment - Guaranteed minimum bonus pool announced - Bonus letter being sent to employees stating that discretionary bonus for 2008 provisionally awarded but subject to a material adverse change clause (MAC clause) - MAC clause being invoked and bonus being cut by 90% - Claimants claiming unpaid balance of sum stated in bonus letter and damages - Whether claimants entitled to full bonus.
The Case
Contract Variation. The Queen's Bench Division held that the first defendant service company for a global investment bank was in breach of contract in failing to pay bonuses in the sums identified in the bonus letters, and each of the claimant employees was entitled to damages for breach of contract.
Practice Areas
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