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Liability Risk and Insurance

US$16.5mn compensation claim settled out of court

A major employee compensation claim has been settled out of court for an undisclosed amount. An investment banker at Lehman Brothers had claimed US$16.5mn in bonuses. He claimed that the bank reneged on a contract to pay him bonuses related to debts which he had managed to recover from Russia back in 1998. He also claimed constructive dismissal.

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