A depositor who had placed sums with an illegal deposit taking business was not entitled to claim that sum held in trust because he still had a statutory claim under contract with the deposit taker.
Citations:
Times 30-Apr-1998, Gazette 07-May-1998, [1998] Lloyd’s Rep Bank 185
Statutes:
Cited by:
Cited – Jeremy D Stone Consultants Ltd and Another v National Westminster Bank Plc and Another ChD 11-Feb-2013
The claimants asserted an equitable claim against funds held by the defendant bank in the name of a company owned by another defendant who they said defrauded them through a Ponzi investment scheme.
Held: The claim failed. On the evidence, the . .
Lists of cited by and citing cases may be incomplete.
Banking
Updated: 18 May 2022; Ref: scu.78520