Pinsent Masons advises on highest value bonus claim brought before DIFC Court
17 Dec 2024 | 01:57 pm |
Multinational law firm Pinsent Masons has successfully represented Mr. Ferri-Ricchi, a foreign exchange trader, in what is believed to be the highest value bonus claim ever brought before the Dubai International Financial Centre Court of First Instance.
The dispute covered a range of ground-breaking and complex DIFC employment law issues, including the right to make deductions from bonus payments, constructive dismissal, interim injunction applications, injunctive relief, and the concept of speedy trials within the DIFC.
Legal representation was provided by Pinsent Masons’ Middle East Employment Team, led by Luke Tapp, Michael Chattle and Emma Noble, and the case was settled on the third day of the scheduled eight-day trial, with a confidential settlement amount paid to Mr. Ferri-Ricchi, along with the discharge of an earlier injunction order issued by Mr Justice Black KC.
Luke Tapp, Head of the Middle East Employment Practice at Pinsent Masons, commented: “This was a fascinating case to be involved in and is the largest and most complex employment law deductions claim that I am aware has ever been pursued before the DIFC Courts. It raises an important reminder for employers regarding the importance of precise contractual wording when agreeing employee bonus terms".
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