30 May 2022

De Brauw is assisting a Dutch financial institution in litigation against a former CFO, who claimed to have been working on the basis of an employment agreement, while the bank argued that the parties had entered into an agreement for service

Anfernee Leemans

Assisting a Dutch financial institution in litigation against a former CFO, who claimed to have been working on the basis of an employment agreement, while the bank argued that the parties had entered into an agreement for services. The CFO also claimed an equitable payment of EUR 2.5 million as damages. After the court of first instance had sided with the bank by holding that the CFO entered into a contract for services, the Court of Appeal ruled that the CFO was working on the basis of an employment agreement. However the Court of Appeal awarded significantly lower compensation – EUR 270,000 - than the amount sought by the CFO, since there was no seriously reproachable behavior on the bank's part. A high-profile case attracting a lot of media attention.