Courts / Ireland / Report
Former PTSB chief seeks €866k in severance pay
Summary
David Guinane, former chief executive of Permanent TSB, has filed a claim in the High Court seeking a severance payment of over €866,000 after leaving the bank in 2012. He alleges that PTSB breached his contract, denied him fair procedures, and damaged his reputation. Guinane asserts a contractual right to a payment under the bank's Voluntary Severance Scheme (VSS), which he claims is based on salary and years of service. The bank offered him €175,000 plus 11.5 months' salary, which he refused, and later withdrew the offer. PTSB denies the claims, stating Guinane received what he was entitled to upon redundancy. The case, represented by Paul Anthony McDermot SC and Shane Murphy SC, is scheduled to continue for eight days before Ms Justice Leonie Reynolds.
Who, what, where, when and why
What: Report matter: Former PTSB chief seeks €866k in severance pay. Procedural stage: hearing_or_decision
When:
- January 2012 Other
- 2016-11-29 Publication
Places mentioned
- High Court
Topics
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