Commerzbank victory over unpaid bonuses

The German bank hailed the victory as it prepared to go to court against similar claims from dozens of London employees.

The German banking giant, which bought Dresdner in January, argued that it had been right to withhold up to 90% of the bankers' 2008 bonuses because the awards were discretionary.

The bankers had been demanding sums ranging from 29,000 (£26,000) to 450,000.

Commerzbank hailed the Frankfurt court's decision, saying: "We see this as a confirmation of our stance."

The German ruling should not affect the case of 72 Dresdner bankers in London who filed similar claims in September for 33.6 million in unpaid bonuses and interest.

Eight Dresdner bankers are demanding more than 1 million each.

The British-based employees, who are represented by solicitors Stewarts Law, say they received guarantees in advance that their bonuses would be paid.

Law firm Mishcon de Reya is acting for a second Dresdner group in London, which is now expected to file another claim in excess of 20 million early next month.

Legal sources suggest the High Court could decide to hear the two cases together because they are based on similar claims.

Commerzbank has lost or settled at least four other court cases involving high-ranking Dresdner staff in London this year.