Sunny Tadjudin’s allegation that her manager at Bank of America transferred a losing position to her to increase his bonus is 'complete nonsense,' the bank’s lawyer said.
Bloomberg reports that John Liptak, the manager, had the Indonesian distressed-debt assets in his portfolio from his previous job at another bank, the lawyer Adrian Huggins said in Hong Kong’s High Court.
It was rational to transfer the assets to Tadjudin as she was principally responsible for Indonesia at their group at Bank of America, Huggins said.
Tadjudin, fired in 2007, is seeking $3.7m in bonuses she says she deserves after generating three quarters of the Asia distressed-debt group’s profits from 2005 to 2007. Liptak 'engineered' her dismissal so he could take over her profitable portfolio and avoid paying her a bonus, she claims.
'Do you agree that it was perfectly rational, given you were ‘Miss Indonesia,’ for you to have those assets in your portfolio?' Huggins asked.
Tadjudin, a 50-year-old Chinese Indonesian, replied that she handled projects outside of her native country and Liptak had asked her to take over the Indonesian assets.
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