ANZ Trader Withdraws Legal Action

ANZ Bank reported recently two former employees of ANZ Bank were taking legal action against the bank and had threatened to unveil other unpleasant behaviour. Now in an unexpected twist one litigant has suddenly decided to change his strategy.

Today ANZ issued a statement to the effect that one of the two, Patrick O’Connor, is ending his legal dispute against the Melbourne based bank.

Patrick O’Connor was suing the bank after he was sacked for running up $ 37,000 of expenses including his rent, healthcare payments, an $ 18,000 purchase of rare coins and several charges at hotels in Sydney and Hong Kong.

In the press release ANZ announced Friday that the dispute with former employee Patrick O’Connor has ended with «Mr O’Connor deciding to discontinue his legal action against ANZ».

Other legal action

No payment will be made by ANZ to O’Connor and each party will meet their own legal costs. ANZ is committed to taking disciplinary action where it finds instances of unacceptable behaviour.

This includes an uncompromising stance with former employees where the bank considers legal disputes instigated by them to be without merit.

The second former employee Etienne Alexiou, who is suing the bank for $ 30 million, is understood to still be proceeding with his legal action.


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