Finance broker sought to recover unpaid salary and profit share
08 November 2011
The litigation was complex because it was necessary to bring it against multiple defendants, each of which had been incorporated in different low tax jurisdictions in order to minimise the tax burden on both the Claimant and Respondent. The employment relationship between the parties was extremely complicated and set out in a number of different agreements and documents.
A claim was issued and some preliminary hearings took place, including a Case Management Conference. We then entered into settlement discussions with the Respondent. After negotiations, the matter was concluded by way of a Compromise Agreement and Consent Order which provided for substantial compensation for loss of salary, profit, shares and options, plus payment of the Claimant's legal fees.