Knox J declined to look at evidence about an agreed overdraft limit, regarding it as a ‘collateral arrangement’. He said: ‘this is a type of transaction in respect of which judicial precedent is a particularly valuable guide to the commercial adviser. It is one of the main justifications for the doctrine of precedent that the … Continue reading In re A Company (No 005009 of 1987); Ex parte Copp: 1989
US Treasury social security orders were stolen in the USA, and brought to London, where they were endorsed at a bank for payment in the USA. Held: On those facts the ‘acceptance’ of the bills could only have taken place in the USA, and therefore there was no jurisdiction to try charges of execution of … Continue reading Regina v Nanayakkara: CACD 1987
The appeal concerned a final third party debt order (formerly a garnishee order). A judgment in France was registered here for enforcement. That jurisdiction was now challenged. Held: A third party debt order is a proprietary remedy operating by attachment against the property of the judgment debtor. The property so attached is the chose in … Continue reading Societe Eram Shipping Company Limited and others v Hong Kong and Shanghai Banking Corp Ltd, Compagnie Internationale de Navigation: HL 12 Jun 2003
The court was asked whether it was possible to bring contempt proceedings against a solicitor for the breach of an undertaking other than one given to the court. The parties had been employee and employer. On the breakdown of that relationship, the employer took possession of a computer used by the employee. They disputed ownership. … Continue reading Coll v Floreat Merchant Banking Ltd and Others: QBD 3 Jun 2014
1267 – 1278 – 1285 – 1297 – 1361 – 1449 – 1491 – 1533 – 1677 – 1688 – 1689 – 1700 – 1706 – 1710 – 1730 – 1737 – 1738 – 1751 – 1774 – 1792 – 1793 – 1804 – 1814 – 1819 – 1824 – 1828 – 1831 – 1832 … Continue reading Acts
An investigation and transcripts of interviews in the course of it, by the Banking Supervisor having been conducted under the Act were subject to the restrictions on disclosure mentioned in the Act. Once however the transcripts had been exhibited to an affidavit used in the course of company director disqualification proceedings, they had become part … Continue reading Barings Plc and Others v Coopers and Lybrand and Others: CA 5 May 2000
A banker disclosing information about a customer’s business affairs save under lawful requirement, would commit a criminal offence. The head of a member of a Federation, the Ruler of Abu Dhabi, was not entitled to immunity while the President of the entity of which Abu Dhabi formed part, namely the United Arab Emirates, was entitled … Continue reading Bank of Credit and Commerce International (Overseas) Ltd (In Liqidation) and Others v Price Waterhouse and Others, Abu Dhabi Etc: ChD 25 Jun 1997
The appellant challenged a formal statutory demand which had led to his bankruptcy. The demand had included the anticipated cost of realising the charged property, and also had been inflated to allow for extra costs of dealing the appellant who was perceived to be recalcitrant and unco-operative. Held: The statutory demand could only include sums … Continue reading Owo-Samson v Barclays Bank Plc, Boyden: CA 21 May 2003
The parties came together in a limited partnership to develop property. The appeal was against a refusal to grant summary judgment on a claim that one party had been induced to enter the contract by a fraudulent misrepresentation. Held: In this case, the defendant knew of the unlawful activity, and had no arguable defence, and … Continue reading Criterion Properties Plc v Stratford UK Properties and others: CA 18 Dec 2002
The claimants shipped goods to Chile through the defendant shipping line. The goods were lost. The shippers rights of suit under the contract of carriage had been transferred to a third party. Held: The shippers as the bank’s principals couldn’t be the holders of the bills endorsed to the banks, and the rights of suit … Continue reading P and O Nedlloyd B v Dampskibsselskabet Af, 1912, Aktieselskab, Aktieselskabet Dampskibsselskabet Svendborg v Utaniko Limited, East West Corporation: CA 12 Feb 2003
The defendant appealed his conviction for obtaining property by deception where part of the offence had taken place abroad. Held: Smith should be overturned. The last act or terminatory theory remains the binding common law of England and Wales. The correct rule was that before an English court could try an offence it was necessary, … Continue reading Regina v Manning: CACD 24 Jun 1998
Westmaze were mechanical engineers. They gave a charge to secure borrowings, which described itself as a fixed charge. Held: A Charge over a company’s book and trading assets was in fact floating even though described as a fixed charge unless it could be shown clearly that the creditor took the right to control the assets … Continue reading In Re Westmaze Ltd (In Administrative Receivership): ChD 15 May 1998
Stolen travellers’ cheques were cashed in France and then presented through normal banking channels to a bank in England. The first and main ground of appeal was that no offence had been thereby committed within the jurisdiction of the Crown Court, because the ‘execution’ of the valuable security, by its ‘acceptance’, had taken place in … Continue reading Regina v Beck: CACD 1984
A partner in a firm of solicitors stole money from them, and spent it gambling with the defendants. The firm sued also their banker, who had been held to be aware of the defaulting partner’s weaknesses and activities. Held: The solicitors could not recover from the gambling house. The defendants gave valuable consideration in good … Continue reading Lipkin Gorman v Karpnale Ltd: CA 1989
An agreement between the parties for assignment or novation of a credit agreement, contained a ‘take out’ agreement (‘TOA’). The defendant began proceedings in California to rescind the agreement, and the claimants obtained summary judgement under the TOA and an injunction to prevent the defendants proceeding in California. The defendants appealed. There were allegations of … Continue reading National Westminster Bank v Utrecht-America Finance Company: CA 10 May 2001
The plaintiff firm of solicitors sought to recover money which had been stolen from them by a partner, and then gambled away with the defendant. He had purchased their gaming chips, and the plaintiff argued that these, being gambling debts, were worthless, and that therefore no consideration had been given. Held: The casino’s defence succeeded. … Continue reading Lipkin Gorman (a Firm) v Karpnale Ltd: HL 6 Jun 1991
Former HL decision in Siebe Gorman overruled The company had become insolvent. The bank had a debenture and claimed that its charge over the book debts had become a fixed charge. The preferential creditors said that the charge was a floating charge and that they took priority. Held: The appeal was allowed. The debenture, although … Continue reading National Westminster Bank plc v Spectrum Plus Limited and others: HL 30 Jun 2005
The court considered the interpretation of the 1882 Act, which was said to be a codifying Act. Held: An Act is to be ascertained in the first instance from the natural meaning of its language and is not to be qualified by considerations deriving from the antecedent law.Lord Watson said: ‘The decision of the Queen’s … Continue reading Bank of England v Vagliano Brothers: HL 5 Mar 1891
Wife in Occupation had Overriding Interest The wife had made a substantial financial contribution to the purchase price of the house which was registered only in her husband’s name, and charged to the bank. The bank sought possession. The wife resisted saying that she had an overriding interest. Held: Her equitable interest was not only … Continue reading Williams and Glyn’s Bank Ltd v Boland: HL 19 Jun 1980
The applicants alleged misfeasance against the Bank of England in respect of the regulation of a bank. Held: The Bank could not be sued in negligence, but the tort of misfeasance required clear evidence of misdeeds. The action was now properly pleaded, and the bank knew the case it had to answer. The issue of … Continue reading Three Rivers District Council and Others v Governor and Company of The Bank of England: HL 18 May 2000
