27 Aug 2024
YANG ZHIZHONG v. NOMURA INTERNATIONAL (HONG KONG) LTD
- Citation
- [2024] HKCFI 2192
- Court
- Court of First Instance
- Case number
- HCA622/2018
Court found Nomura had reasonable and proper cause to issue the written warning based on SFC findings and internal investigation; the withholding of the FY2016/17 discretionary bonus was a lawful exercise of contractual discretion subject to Braganza rationality review and was not irrational; termination (labelled redundancy) was not proven to have been used to avoid bonus entitlement and unvested awards were forfeited as a consequence of the employee's failure to execute required waiver under the award terms. Accordingly all contractual breach claims failed.