Attrill & Ors v Dresdner Kleinwort Ltd & Anor

Attrill & Ors v Dresdner Kleinwort Ltd & Anor

The Court of Appeal held that the claimants' case regarding the contractual effect of the 18th August 2008 Town Hall announcement and subsequent communications should not have been summarily dismissed, as there were triable issues regarding the existence and enforceability of a guaranteed minimum bonus pool. The court also held that the banks' application for summary judgment regarding the MAC clause and reduction of bonuses should be dismissed, as these matters required a full trial to resolve factual disputes and contractual interpretation.

Parties
Claimants: Attrill and others; Defendant: Dresdner Kleinwort Ltd; Defendant: Commerzbank AG; Claimants: Fahmi Anar & others
Jurisdiction
England and Wales
Judgment Date
08 March 2011
Procedural Posture
Civil Appeal / Appeal From Summary Judgment in Queen's Bench Division
Outcome
Both applications for summary judgment dismissed; judge's order set aside.
Legal Topics
Employment Contracts, Discretionary Bonuses, Summary Judgment, Variation of Contract, Consideration, Acceptance
Employment Law Contract Law Employment Contracts Discretionary Bonuses Summary Judgment Variation of Contract Consideration Acceptance

Case Brief

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Parties

Attrill and others

Claimants

Dresdner Kleinwort Ltd

Defendant

Commerzbank AG

Defendant

Fahmi Anar & others

Claimants

Procedural Posture

Civil Appeal / Appeal From Summary Judgment in Queen's Bench Division

Legal Issues

  1. 1 Whether statements made at the Town Hall meeting on 18th August 2008 created contractually binding promises regarding a guaranteed minimum bonus pool
  2. 2 Whether the insertion and application of the MAC clause in the bonus letters was contractually justified
  3. 3 Whether summary judgment was appropriate for either party

Ratio Decidendi

The Court of Appeal held that the claimants' case regarding the contractual effect of the 18th August 2008 Town Hall announcement and subsequent communications should not have been summarily dismissed, as there were triable issues regarding the existence and enforceability of a guaranteed minimum bonus pool. The court also held that the banks' application for summary judgment regarding the MAC clause and reduction of bonuses should be dismissed, as these matters required a full trial to resolve factual disputes and contractual interpretation.

Court Disposition

Both applications for summary judgment dismissed; judge's order set aside.

Orders

  • Judge's order of 28th May 2010 set aside
  • Both applications for summary judgment dismissed