The Workplace Relations Commission in Ireland has made an award against XS Direct Insurance Brokers, which has gone into administration.
Employee Thomas Doyle made a complaint against insurance broker, reports the Irish Times, on November 15th, 2021, relating to his entitlement to annual bonuses. Despite reaching two sets of targets during 2019 and 2020, bonuses were not paid to him. Each annual bonus was worth €22,155.
Mr Doyle attended the hearing at the WRC but there was no appearance by, or on behalf of the respondent, or the receivers. There was a judgment made that compensation was due, with an amount of 60,926 euros being the figure.
At one point XS Direct was predicted to make a debut on the stock market, with an IPO paying back investors like Irish restauranteur Jay Bourke. But that didn’t happen and XS Direct went into run-off early in 2022, with debts reported to be about £20m. It isn’t clear how anyone owed monies in an employment dispute will win the amount awarded now the company has ceased trading.