10:20am Tuesday 14th February 2012
A FORMER finance director from Alvechurch has lost a compensation claim for the repayment of money taken from his salary after a judge reminded him he was the co-author of a “deduction scheme” in the first place.
Stephen Potter, of Redditch Road, made his compensation claim at Birmingham Employment Tribunal against Taalus Ltd, a research and investment information firm of Birmingham.
The tribunal was told that Mr Potter had been finance director with a previous employer.
The previous employer had asked employees to approve the postponement of nine per cent of their salaries to help the firm counter a financial slump and stave off redundancies.
Mr Potter was said to be among those who approved the scheme and employees were told that the firm intended paying back the deductions when the financial situation improved.
Employees were warned, however, that if they resigned voluntarily, they would not receive the paybacks.
The previous firm eventually went into voluntary liquidation and Taalus Ltd took over the assets, the tribunal was told.
Mr Potter later resigned from the Taalus firm.
Tribunal judge Mr David Kearsley rejected Mr Potter’s claims for the payback.
“Mr Potter and his new boss did not get on and we have been told that Mr Potter complained he was excluded from board meetings,” said Mr Kearsley.
“But Mr Potter resigned from the Taalus firm and the tribunal decision is that he was therefore not entitled to the repayment because he had been co-author of the deductions scheme in the first place.”
A counter claim by Taalus against Mr Potter involving the use of a BMW car was also rejected.
Mr Potter said he now had another job.
© Copyright 2001-2014 Newsquest Media Group