Christie v Canaccord Genuity Limited

Mr Christie brought claims against his former employer for (1) his bonus determination in 2015, (2) his bonus determination in 2016 and (3) a failure to make a retention award. The total value of the claims was £2.32 million. The bonus claims were brought on the basis that the bonuses had been irrationally low or alternatively were not Braganza-compliant exercises of discretion. The retention award was claimed to have been an oral contractual entitlement. The Defendant former employer applied for summary judgment on the basis that the claims stood no reasonable prospect of success. The Court granted summary judgment in relation to both bonus claims [but permitted the alleged oral contract to proceed to trial on the basis that it was necessary to resolve a conflict of evidence].

Thomas Croxford QC acted successfully for Canaccord Genuity Limited.

The judgment can be found here.