Mr Baird said he will now be asking Justice Secretary Ken Clarke to "consider afresh" his claim for compensation applying the new test set out by the Court.
Because X Co. intends to pay the 2012 accrued bonus liability prior to March 15, 2013, the payments will not be treated as deferred compensation, and thus satisfy the economic performance test.
"This compensation scheme has existed on the statute books since 1886 with its operation having stood the test of time for the last 125 years, " the ABI said.