• Contact
  • Feedback
Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Former CBA executive wins breach of contract claim

12 September 2012 4:40PM
A former Commonwealth Bank executive was awarded A$317,500 compensation after he brought a breach of contract case against the bank, following his redundancy in 2009.Stephen Barker started working for the Commonwealth Bank in 1981, after leaving school. By 1989 he was a loans officer at the Findon branch, in Adelaide.Barker continued to move up through the ranks, and in 2004 was appointed executive manager for corporate banking in Adelaide. He managed a business with 800 customers, $27 million of revenue and 24 staff in his team.In 2006 there was some restructuring in the corporate and business banking division, and this affected Barker's seniority.Despite assurances from his manager that his role was not changing, Barker claimed there was a lessening of his responsibilities. He felt that he had been misled.The restructuring continued during 2007 and 2008. Barker's relationship with has manager had become fractious by then. His position was made redundant in March 2009.In a judgement handed down on September 3, the Federal Court found that the bank was in breach of contract because it did not give Barker four weeks' notice. It also found that the bank breached implied terms of mutual trust and confidence by not giving Barker the chance to be redeployed.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now

Finance regulation

  • States take up the cudgels on eConveyancing
  • Firstmac failed design and distribution rules
  • 'Minimal' bankruptcy reforms tabled by Dreyfus

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con
  • Credit quality dogs Zip turnaround

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use