Seventeen sacked managers of embattled Intercontinental Bank Plc, alleging that their terminal benefits were withheld by the bank since the June 12, 2009  rationalisation exercise, have now asked a Lagos High Court to look into the matter.

In a 35-paragraph statement of claims, filed by lawyers from the law firm of Festus Keyamo, it was averred that the claimants are members of the Trade Union  Association of Senior Staff of Banks, Insurance and Other Financial Institution, ASSBIFI.

It was further averred that part of the agreement ASSBIFI has with the bank is the Redundancy Benefit, which is granted to an employee after termination of  his employment. This amounts to N200 million for the 17 managers.

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The claimants further averred that they had worked over 10 years in the service of the bank and as such, they are entitled to various sums ranging from N11  million to N14 million on the basis of 14 weeks total emolument for each completed year of service.

It was averred that the bank has refused to pay the money, despite repeated demands.

They also averred that while in the service of the bank, they made monthly contributions towards their pension through Pension Funds Administration, PFA,  Legacy Pension and National Housing Fund, NHF.

They claimed that since the termination of their appointment, the bank has failed to inform the NHF or PFA of their termination and has refused to pay their  gratuity, despite repeated demands.

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Consequently, the claimants are seeking a court order compelling the bank to pay their redundancy benefit to write to NHF and PFA, informing them of their  disengagement and an order compelling the bank to dispose of shares purchased using the share loans of 2004 and 2006 in accordance with Article 3.3,  paragraph (a) (b) of the Intercontinental Bank Plc staff hand book.

Meanwhile, Justice Femi Adeniyi has fixed pre-trial conference in the matter for February 14, 2011.

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