Within investment banks there is no issue so divisive between the employee and the employer as that of the end of year bonus. In the good times they are good, but probably not quite as good as someone else’s. In the bad times they are worse, and might not even be paid at all.

This game of push and pull between banker and bank can spill into the courts, and given the turmoil in financial markets over the last 12 months it is unsurprising that many disputes have gone to law. Financial News asked two senior lawyers experienced in handling bonus disputes what they thought the impact of recent decisions would be on others who might be considering their own legal action and whether banks should be preparing for a flood of cases.