The Court of Appeal has overturned an Employment Tribunal’s decision to award a dismissed worker career-long compensation.

Lord Justice Elias last week ruled that the tribunal had erred in awarding almost £375,000 to banker Michael Wardle in Wardle v Calyon.

Wardle sought compensation after being unfairly dismissed from his £104,000-a-year job in July 2008.

His payout was based on potential earnings lost throughout the 15 years left of his career, although he had returned to employment by April 2010.

The tribunal had found there was a 70% chance that Wardle would be back in work by the end of 2011, and the Court of Appeal ruled compensation must only last until there is a ‘better than even’s chance’ of finding equivalent employment.

It ordered compensation to be recalculated.