Farhaz Khan wins contract discretion case in the DIFC for Atlas Mara Bank
On 5th September 2019 the DIFC Court handed down judgment in Vitalo v Atlas Mara Bank CF-18-2018, following an immediate judgment application and trial of the claims and set-off counterclaims, in May and September 2018.
The claim was brought by the former CEO of Atlas Mara Bank, a sub-Saharan African financial services group operating from the DIFC. The claim related to alleged unpaid health cover, holiday, indexation and other contractual and DIFC statutory entitlements (including the then applicable rules on Article 18 statutory penalty), claimed by the claimant from his time as CEO. The claim engaged issues including contractual discretion and the implied obligation of good faith; the Court accepted the Bank’s submission that under the former CEO’s contract for services it retained a discretion whether or not to grant certain payments. The immediate judgment application and the claims were each dismissed with costs.
A copy of the risks judgment can be found here and the prior immediate judgment reasons can be found here.
Farhaz Khan acted for Atlas Mara Bank leading Saaman Pourgadhiri of Outer Temple Chambers. They were instructed by Hadef & Partners.