High Court writ says Omega should pay former chief exec around £3.3m

Further details of former Omega chief executive Richard Tolliday’s bitter legal battle against the Lloyd’s insurer are revealed this week in a High Court writ.

The writ says Omega should reimburse Tolliday for any tax charge that could be taken out of his dismissal payment. According to Omega’s 2009 annual report, this could be $5.4m (£3.3m).

Tolliday claims he should have received a payout from Omega within a month of his dismissal last March, according to the terms of a service agreed in May 2009.

Tolliday is also applying for permission to move the case overseas and serve the claim to Omega’s Bermudan base.

Omega refused to comment.