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Ex-Lloyds CEO Says Bank Can't Win in 2-Million Share Bonus Fight

  • Eric Daniels wants London court judgment on case without trial
  • Bank’s lawyers say trial needed to debate the bonus dispute
Eric Daniels

Eric Daniels

Photographer: Chris J. Ratcliffe/Bloomberg
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Former Lloyds Banking Group Plc Chief Executive Officer Eric Daniels asked a London high court judge to skip a trial and make a so-called summary judgment in his claim for a 2-million share bonus payout against the lender.

Paul Lowenstein, a lawyer for Daniels, told the court that the bonus for the successful integration of HBOS Plc should’ve been made, because the former CEO met objective performance criteria. His lawyers argued that Lloyds’ defense has "no real prospect of success," according to a court filing by the bank’s attorneys. Daniels’ representatives didn’t immediately share their legal statement.