No dispute: Bank failed to put up any counter-argument in bonus case

THE AIB official who took a High Court case seeking to receive the 2008 bonus, which succeeded because the bank did not dispute the claim, will still get to keep the sum.

Finance Minister Brian Lenihan has stated that while his planned legislation will block any future pay-outs, including those from previous years, there is no way to prevent John Foy from keeping the €161,000 payment.

Currency trader Mr Foy successfully took AIB to court at the end of last month in order to have the bonus paid out to him for his work in 2008.

The decision, which included interest and legal costs, came after the bank failed to put up any counter-argument to Mr Foy’s case.

As a result of the case almost 2,400 other AIB employees — including executives, managers and junior managers — were due to receive huge bonuses at a time when their company is being bailed out.

The Government is attempting to block this move. However, as Mr Foy’s claim has already been settled by the High Court his bonus payment cannot be prevented by the Department of Finance.