Merger of Atlas Bank with AHBL and MyBank: certain senior employees move court against denial of dues, benefits

The amalgamation/merger of Atlas Bank Limited with Arif Habib Bank Limited and MyBank Limited is in process, which amalgamation/merger is the project of M/s Suroor Investments Limited of Hussain Lawai. In the context of this amalgamation/merger of Atlas Bank Limited, certain former senior employees of Atlas Bank Limited recently separated from Atlas Bank Limited.
These former senior employees have instituted Civil Suit No 1349 of 2010, Civil Suit No 662 of 2010 and Civil Suit No 1555 of 2010 before Honourable High Court of Sindh at Karachi. These Civil Suits are based on, firstly, the denial of dues and benefits of these former senior employees in violation of Separation Policy, 2008, of Atlas Bank Limited, and, secondly, of the denial of share options to these former senior employees in violation of their appointment letters.
These former senior employees are also saddened by the fact that other employees of Atlas Bank Limited are also being denied, inter alia, their separation dues and benefits in violation of the Separation Policy, 2008, and are instead being given much lesser dues on the purported basis of a so-called 'Golden Hand Shake Scheme'.
These former senior employees of Atlas Bank Limited have also written to the Governor, State Bank of Pakistan, to look into the merger of Atlas Bank Limited and also into the denial of dues and benefits to the employees (former and current) of Atlas Bank Limited in violation of the law. These former senior employees of Atlas Bank Limited would continue in their legal struggle to get justice for themselves and for other employees of Atlas Bank Limited.-PR