The court considered the award of damages for the wrongful dishonour of its customer’s cheque. Judges: O’Connor, Parker LJJ Citations: [1988] BTLC 35 Jurisdiction: England and Wales Cited by: Cited – Kpohraror v Woolwich Building Society CA 1996 The Society, acting as a bank, had at first failed to pay its customer’s cheque for andpound;4,550, … Continue reading Rae v Yorkshire Bank plc: CA 1987
The court accepted that in a case where the garnishee was not indebted within the jurisdiction that might be relevant to the exercise of the court’s discretion. Since, in this case, the debt in question was an English debt, the court’s jurisdiction in relation to foreign debts did not fall for decision. The legislation has … Continue reading SCF Finance Co Ltd v Masri (No 3): 1987
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The applicant sought a declaration that the defendant had acted in breach of the Act, in accepting sums by way of deposit, without being authorised, and had made prohibited statements to attract such deposits. Could a civil court make such a finding which would be equivalent to a finding of guilt of a criminal offence? … Continue reading Financial Services Authority v Rourke: ChD 19 Oct 2001
The offence of making a fraudulent inducement to make a deposit was complete on the making of the fraudulent statement. Citations: Ind Summary 27-Nov-1995 Statutes: Banking Act 1987 35(1) Jurisdiction: England and Wales Crime Updated: 08 October 2022; Ref: scu.86664
Appeal against setting aside of statutory demand disputed as to amount of liability under contract. Held: The guarantors’ liability under the guarantee was immediately payable by them, without the need for a demand, before service of the statutory demands. Judges: David Richards J Citations: [2007] EWHC 1401 (Ch) Links: Bailii Jurisdiction: England and Wales Citing: … Continue reading TS and S Global Ltd v Fithian-Franks and others: ChD 18 Jun 2007
Appeal from decision that declared that the transcripts of certain interviews carried out on behalf of the Board of Banking Supervision in the course of an investigation into the collapse of the Barings Group were and still are subject to the restriction on disclosure contained in Part V of the Banking Act 1987 Judges: Lord … Continue reading Barings Plc and Ors v Co Lybrand and Ors: CA 5 May 2000
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 person required to answer questions under the section may not refuse to answer on the ground of self-incrimination. (Dillon LJ) ‘It is plain to my mind – and not least from the Cork Report – that part of the mischief in the old law before the Insolvency Act 1985 was the apparent inability of … Continue reading Bishopsgate Investment Limited v Maxwell: CA 1999
A bank owed debts to a judgment debtor customer on accounts held both in London and in Africa. It was accepted that the former were subject to a garnishee order. The dispute concerned the latter. Held: The bank is no doubt indebted to the judgment debtor and the bank is within the jurisdiction. The Order … Continue reading Richardson v Richardson: KBD 1927
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
An injunction was sought against a Panamanian ship-owning company to restrain it from disposing of a fund, consisting of insurance proceeds, in England. The claimant for the injunction was suing the company in a Cyprus court for damages and believed the company to have no other assets from which to meet the hoped-for damages award … Continue reading Siskina (owners of Cargo lately on Board) v Distos Compania Naviera SA: HL 1979
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 company granted a debenture to the claimant purporting to secure its book debts. The company went into liquidation. The liquidator challenged the bank’s charge. Held: Siebe was wrongly decided. The charge was ineffective over the book debts. Vice Chancellor Andrew Morritt [2004] 2 WLR 783, [2004] 1 All ER 981, [2004] BCC 51, [2004] … Continue reading National Westminster Bank Plc v Spectrum Plus Ltd and others: ChD 15 Jan 2004
The Society, acting as a bank, had at first failed to pay its customer’s cheque for andpound;4,550, even though there were sufficient funds. The bank said that it had been reported lost. The customer sought damages to his business reputation. Held: The bank was in breach of contract and in principle liable for injury to … Continue reading Kpohraror v Woolwich Building Society: CA 1996
A ship charterer discovered that the bills of lading were incorrect, but delayed withdrawal from the charter for 13 days. They now sought leave to appeal the arbitration award against them. Held: Though he deprecated extending the use of the expression ‘purposive construction’ from the interpretation of statutes to the interpretation of private contracts, Lord … Continue reading Antaios Compania Naviera SA v Salen Rederierna AB (‘the Antaios’): HL 1984
