Dresdner Kleinwort Ltd & Anor v Attrill & Ors [2013] EWCA Civ 394

Posted In: Case Law
  • Case Reference
    EWCA Civ 394
  • Legal Body
    England and Wales Court of Appeal (EWCA)
  • Type of Claim / Jurisdiction
Issues covered: Variation of Contract; discretionary bonus; interpretation

This case concerned unpaid bonuses for employees of Dresdner Bank from 2008, totalling 50 million Euros. Although the employment contract stated the bonus was discretionary, in August 2008 following rumours of a sale and possible closure, the Bank announced via a live broadcast that a minimum pool of 400 Euros would be set aside for bonuses for 2008, in order to prevent key staff leaving. This was confirmed again on the Company Intranet and further details were emailed by the Head of Human Resources.

The Bank decided in December to introduce a “material adverse change” (“MAC”) clause into bonus letters stating that the bonus award was subject to review if earning’s deteriorated. In February

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This article is correct at 03/05/2013

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