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.