Commerzbank has lost a high-profile legal case which means it has to pay about €50m to 104 bankers in one of the biggest bonus disputes arising from the credit crunch.
The German bank had gone to the UK’s Court of Appeal in an attempt to overturn an earlier court decision that found in favour of the London-based investment bankers, who had claimed they were entitled to a share of bonuses from a €400m pool set up in 2008 to help retain staff.
On Friday three judges at the Court of Appeal unanimously dismissed Commerzbank’s case.
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