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Commerzbank loses attempt to appeal bonus ruling
May 30, 2012 / 11:38 AM / 5 years ago

Commerzbank loses attempt to appeal bonus ruling

LONDON, May 30 (Reuters) - Commerzbank, Germany’s second-largest lender, has lost an attempt to persuade an English court to allow it to appeal a ruling that it must pay 104 London-based bankers 52 million euros ($65 million) in bonuses.

High Court Judge Robert Owen said he thought Commerzbank had acted in a “highly reprehensible” manner and “was unreasonable to the high degree that warrants an order for indemnity costs”.

Commerzbank, which slashed 2008 bonuses after its Dresdner Kleinwort investment banking arm ran up vast losses during the financial crisis, said it was considering whether to petition the Court of Appeal.

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