Clifford Chance

High Court Finds Bank Contractually Bound By Statements Made At Town-Hall Meeting

21 February 2014

In Daniel John Brader & others v Commerzbank AG [2013] SGHC 284, the Singapore High Court held that an announcement made in a Town-Hall meeting amounted to a contractually binding promise. Since the information concerning a guaranteed minimum bonus pool available for distribution to employees was intended to give rise to a legally binding commitment, and was sufficiently certain to be enforceable, that announcement constituted a separate free-standing unilateral contract between the bank and its employees.

Download PDF