The former CEO of Lloyds Banking Group and the former head of the wholesale banking division are suing the bank for unpaid bonuses. Eric Daniels and Truett Tate have filed claims with the High Court disputing the bank’s decision not to award them part of a bonus due in 2008. The two men are believed to be seeking sums in the region of £500,000 each. Daniels reportedly played a leading role in both the mis-selling of payment protection insurance (PPI) scandal, which has so far cost Lloyds £18bn ($23bn), and the events prior to the bank’s emergency rescue in 2012.
The former CEO of Lloyds Banking Group and the former head of the wholesale banking division are suing the bank for unpaid bonuses. Eric Daniels and Truett Tate have filed claims with the High Court disputing the bank’s decision not to award them part of a bonus due in 2012. The two men are believed to be seeking sums in the region of £500,000 each. Daniels reportedly played a leading role in both the mis-selling of payment protection insurance (PPI) scandal, which has so far cost Lloyds £18bn ($23bn), and the events prior to the bank’s emergency rescue in 2008.