Lawyers for Commerzbank today asked a UK High Court judge to throw out claims from more than 100 ex-Dresdner Kleinwort staff over the payment of €400m ($523.4m) in bonuses that were allegedly guaranteed for 2008 but subsequently reduced drastically by new owner Commerzbank.

Jonathan Sumption QC, representing Commerzbank, asked Justice Peregrine Simon for a summary judgement in favour of the bank at London's Royal Courts of Justice this morning.