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Ex-Charterhouse Partner ‘Rocked’ by $66 Million Pay Cut Proposal

A former executive at Charterhouse Capital Partners LLP told a court he was “shocked” when the firm’s chairman, James Gordon Bonnyman, suggested he take a pay cut of as much as 40 million pounds ($66 million).

Geoff Arbuthnott is suing Bonnyman and the 16 other owners of the London-based private-equity firm for trying to seize his stake for less than he says it’s worth. In the London trial today, Arbuthnott said his relationship with Bonnyman soured before he resigned in 2008.