Former employees at AIG have won a UK court ruling that could see them awarded over $100m in bonuses dating back to the October 2019 Global Financial Crisis. The court ruled that AIG Management France SA and AIG Financial Products broke its contracts with the 23 former traders, analysts and managers at the company's London branch, who claim they were assured they would receive the bonuses. A further trial will decide on the exact size of the damages and, with nearly 300 staff potentially eligible for a payout, the total could be greater than the $108m currently at stake.
Former employees at AIG have won a UK court ruling that could see them awarded over $100m in bonuses dating back to the 2008 Global Financial Crisis. The court ruled that AIG Management France SA and AIG Financial Products broke its contracts with the 23 former traders, analysts and managers at the company's London branch, who claim they were assured they would receive the bonuses. A further trial will decide on the exact size of the damages and, with nearly 300 staff potentially eligible for a payout, the total could be greater than the $108m currently at stake.