Former manager of the New Building Society (NBS), Maurice Arjoon, who was found to have been wrongfully dismissed, is entitled only to the full payment of pension amounting to some $59 million and not severance benefits as well.
Stabroek News had posted on its website this afternoon that the Caribbean Court of Justice (CCJ) in a majority judgment had ruled that Arjoon was entitled to both pension and severance.
That was incorrect and this newspaper apologises for the error.
The court rules as follows:
Disposition
[190] The Court therefore makes the following order:
a. The Appeal is allowed and the Cross-Appeal is dismissed.
b. The decision of the Court of Appeal, in its Judgment dated 16 September
2022, that the Appellant was not entitled to pension benefits is reversed.
c. The Judgment and Order of Reynolds J made on 20 July 2017 is restored,
with the exception of the order for payment of severance to the Appellant.
d. The First Named Respondent shall pay to the Appellant the additional sum
of GYD1,602,459.00 being leave pay and passage assistance for the years
2006 and 2007.
e. The Respondents shall pay standard costs to the Appellant.