Bloomberg News reports that John Liptak knew Tadjudin, who worked for the bank’s Asian distressed-debt trading group, would not get a bonus for 2007 when he put her on a performance plan, her lawyer Graham Harris said in the Hong Kong High Court Tuesday. The plan was an instrument for termination, not improvement, Harris said.
Liptak, who no longer works for the bank, denied engineering Tadjudin’s firing. She was fired after failing to meet 100 percent of the goals in her improvement plan, Liptak testified. Bank of America denied her claims that she was deprived of bonuses she was entitled to expect for 2005 and 2006 after irrational and arbitrary performance ratings.
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