Richards & Anor v I P Solutions Group Ltd

Richards & Anor v I P Solutions Group Ltd

Claimants not entitled to further bonus; share valuation date is actual termination date; Article 13.3 impacts share value; interest and costs awarded as per standard practice.

Parties
Claimant: Paul Richards; Claimant: Keith Purves; Defendant: I P Solutions Group Ltd
Jurisdiction
England and Wales
Judgment Date
30 November 2016
Procedural Posture
Civil / Post Liability Judgment, Determination of Damages and Costs
Outcome
Claimants' claims for further bonus and higher share valuation dismissed; costs up to and including trial awarded to Claimants; interest awarded as specified.
Legal Topics
Wrongful Dismissal, Share Valuation, Bonus Entitlement, Interest on Damages, Costs
Employment Law Company Law Wrongful Dismissal Share Valuation Bonus Entitlement Interest on Damages Costs

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Parties

Paul Richards

Claimant

Keith Purves

Claimant

I P Solutions Group Ltd

Defendant

Procedural Posture

Civil / Post Liability Judgment, Determination of Damages and Costs

Legal Issues

  1. 1 Entitlement to further bonus during notice period
  2. 2 Valuation date and method for shares of 'Good Leavers'
  3. 3 Impact of Article 13.3 on share valuation

Ratio Decidendi

Claimants not entitled to further bonus; share valuation date is actual termination date; Article 13.3 impacts share value; interest and costs awarded as per standard practice.

Court Disposition

Claimants' claims for further bonus and higher share valuation dismissed; costs up to and including trial awarded to Claimants; interest awarded as specified.

Orders

  • No further bonus payable to Claimants.
  • Share valuation to be at actual termination date and subject to Article 13.3.