Court of Appeal to rule December 6 on challenge by NBS to Arjoon award

Maurice Arjoon

On December 6, the Court of Appeal will rule on the New Building Society’s (NBS) challenge to the $79 million awarded to dismissed manager, Maurice Arjoon.

On July 17, High Court judge, Brassington Reynolds, ruled that the sacked manager had been wrongfully dismissed and awarded severance and other benefits to the tune of $79 million.

The bank has since appealed the judgment, citing more than a dozen grounds, including that it was erroneous and that pension cannot be awarded together with severance and other benefits when an employee is terminated or dismissed.

It believes it has appealed on “sound grounds,” but said that if perchance it loses, it will honour the judgment to be finally given in Arjoon’s favour…..

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