Andrew Mohl is a much happier man this week following a 12.4% rise in AMP shares from a record low of $5.90. The company’s shares have more than halved in the past 12 months, and no one was sure when the price would touch bottom.

But one AMP customer who is not happy is the man Mr Mohl replaced as AMP’s CEO, Paul Batchelor. Last week he was given $2.1 million in compensation (before tax, that is) by AMP, following his now-admitted termination last September.

Reports say the amount won’t even pay 10% of what Mr Batchelor believes he is due, but he will have to take the company to court to get it. He could be in for a tough battle. New Chairman Peter Willcox is in a “take it or leave it” kind of mood.