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Jan 5, 2010
Italian sues StanChart Bank
By Selina Lum
A SENIOR bank executive reported to the Standard Chartered Bank here on Dec 1, 2008 to start a new job - but resigned the same day after falling out with his employer over his employment contract. Mr Fermin Aldabe, 43, an Italian, is now suing the bank for wrongful dismissal, claiming that the bank had changed the terms of his employment contract after he arrived in Singapore. He also claims that as a result, he lost the opportunity to be employed by another bank. He is seeking $540,800 from the bank, including payment of salary, cost of shipping his belongings to Singapore and economic loss. The trial started in the High Court on Monday and is scheduled for a five-day hearing. Mr Aldabe is representing himself in the trial and took the stand on Monday. He signed an employment agreement with the bank on Nov 10, 2008, to head its complex product risk management, foreign exchange and commodities unit. The contract stated that he was to be paid $291,000 a year and start work on Nov 17, 2008.
In his lawsuit, Mr Aldabe said a bank executive told him in a phone conversation on Nov 13 not to turn up for work before Dec 1 because more time was needed to set up the systems for him. These included his e-mail account, access card, workstation and office supplies. On the morning of Dec 1, 2008, he reported for work. Four hours later, the bank told him that it would pay him starting from Dec 1, and not from Nov 17. Mr Aldabe then wrote a resignation letter on the spot, giving 30 days' notice. Security was called to escort him off the premises. In the meantime, the bank issued him a letter withdrawing its offer of employment.
Home > Breaking News > Singapore > Story
Jan 5, 2010
Italian sues StanChart Bank
By Selina Lum
A SENIOR bank executive reported to the Standard Chartered Bank here on Dec 1, 2008 to start a new job - but resigned the same day after falling out with his employer over his employment contract. Mr Fermin Aldabe, 43, an Italian, is now suing the bank for wrongful dismissal, claiming that the bank had changed the terms of his employment contract after he arrived in Singapore. He also claims that as a result, he lost the opportunity to be employed by another bank. He is seeking $540,800 from the bank, including payment of salary, cost of shipping his belongings to Singapore and economic loss. The trial started in the High Court on Monday and is scheduled for a five-day hearing. Mr Aldabe is representing himself in the trial and took the stand on Monday. He signed an employment agreement with the bank on Nov 10, 2008, to head its complex product risk management, foreign exchange and commodities unit. The contract stated that he was to be paid $291,000 a year and start work on Nov 17, 2008.
In his lawsuit, Mr Aldabe said a bank executive told him in a phone conversation on Nov 13 not to turn up for work before Dec 1 because more time was needed to set up the systems for him. These included his e-mail account, access card, workstation and office supplies. On the morning of Dec 1, 2008, he reported for work. Four hours later, the bank told him that it would pay him starting from Dec 1, and not from Nov 17. Mr Aldabe then wrote a resignation letter on the spot, giving 30 days' notice. Security was called to escort him off the premises. In the meantime, the bank issued him a letter withdrawing its offer of employment.
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