P and O Nedlloyd B v Dampskibsselskabet Af, 1912, Aktieselskab, Aktieselskabet Dampskibsselskabet Svendborg v Utaniko Limited, East West Corporation: CA 12 Feb 2003

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 were transferred with them. Nevertheless, the bailment to the shipping line continued, and the shippers rights as bailor continued. The defendants were in breach of their duties as bailees.
Mance LJ said: ‘The duties of a bailee arise out of the voluntary assumption of possession of another’s goods’

Judges:

Lord Justice Laws, Lord Justice Brooke, Lord Justice Mance

Citations:

Times 13-Feb-2003, [2003] QB 1509, [2003] EWCA Civ 83, [2003] 1 Lloyd’s Rep 239, [2003] 1 CLC 797, [2003] 2 All ER 700, [2003] 3 WLR 916, [2003] 1 All ER (Comm) 524

Links:

Bailii

Statutes:

Carriage of Goods at Sea Act 1992 5(2)

Jurisdiction:

England and Wales

Citing:

Appeal fromEast West Corporation v DKBS 1912 and Another ComC 7-Feb-2002
. .
Appeal fromEast West Corporation v DKBS 1912 and Another ComC 27-Feb-2002
‘The purpose of the award of an enhanced rate of interest or indemnity costs is to encourage parties to make offers of settlement in the ordinary sense of that word. It is to compensate the claimant who has made an offer that should have been . .
CitedObestain Inc v National Mineral Development Corporation (‘The Sanix Ace’) 1987
Hobhouse J affirmed an owner’s right to recover damages (in full) in respect of loss or damage to goods, subject to the one qualification that ‘his claim may be defeated if his right is a bare proprietary one and did not include any right to . .

Cited by:

CitedFrans Maas (Uk) Ltd v Samsung Electronics (Uk) Ltd ComC 30-Jun-2004
A large volume of mobile phones were stolen from a warehouse. The owner claimed damages from the bailee. The defendant said that standard terms applied limiting their responsibility to value calculated by weight.
Held: There was a bailment . .
CitedScottish and Newcastle International Limited v Othon Ghalanos Ltd HL 20-Feb-2008
The defendant challenged a decision that the English court had jurisdiction to hear a claim in contract saying that the appropriate court was in Cyprus. The cargo was taken by ship from Liverpool to Limassol. An English court would only have . .
CitedKamidian v Holt (on Behalf of Certain Underwriters at Lloyd’s) and others ComC 27-Jun-2008
The claimant claimed to have bought what he believed to be a genuine Faberge Egg Clock, but which his insurers said was a copy. It was loaned to an exhibition, and insured, and damaged twice. The parties disagreed as to the disappreciation value, . .
Lists of cited by and citing cases may be incomplete.

Transport, Agency, Banking

Updated: 17 October 2022; Ref: scu.179116

Gorjat v Gorjat: ChD 29 Jun 2010

The claimant, daughters of the deceased by his first marriage challenged a transfer of a significant sum by their father before his death, saying that he lacked mental capacity.

Judges:

Sarah Asplin QC

Citations:

[2010] EWHC 1537 (Ch)

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

CitedMacmillan Inc v Bishopsgate Investment Trust Plc and Others (No 3) CA 2-Nov-1995
The question of ownership of a company is to be decided according to law of country where the company is incorporated. Conflict of laws rules are to be used to look to the issue in the case not the cause of action.
Staughton LJ said: ‘In any . .
CitedRaffelsen Zentralbank Osterreich Ag v Five Star General Trading Llc and Others CA 1-Mar-2001
An assigned marine insurance policy was subject to a claim. The issue was the ability of an assignee to claim as a claim in contract where the proper law was that under which the contract was made, or a claim of an intangible right to claim against . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 13 October 2022; Ref: scu.432737

Kensington International Ltd v Republic of The Congo: ComC 16 Apr 2003

Judges:

Tomlinson J

Citations:

[2003] EWHC 2331 (Comm)

Links:

Bailii

Jurisdiction:

England and Wales

Cited by:

Appeal fromKensington International Ltd v Republic of the Congo CA 13-May-2003
The claimant had obtained judgment against the defendant for US$60m, and had sought a Mareva injunction against the defendant republic’s assets and against the assets of companies through which it operated in the UK. The claimant now appealed . .
See AlsoKensington International Ltd v Republic of the Congo; Glencore Energy UK Limited, Sphynx UK Limited, Sphynx (BDA) Limited, Africa Oil and Gas Corporation, Cotrade SA (Third Parties) ComC 28-Nov-2005
The claimant had taken an assignment of debts owed by the defendant, and obtained judgment in US$121m. They sought to enforce the judgment and obtained third party debt orders against the parties listed.
Held: Officers in the third party . .
See AlsoKensington International Ltd and Another v Republic Of the Congo ComC 26-May-2006
. .
See AlsoKensington International Ltd v Republic of Congo and Another ComC 20-Jul-2006
The claimant sought leave to cross examine an officer of the defendant in connection with his affidavit sworn in search order proceedings. The case had a history of deceit and dishonest oral evidence.
Held: Though such an order would be . .
See AlsoKensington International Ltd v Republic of the Congo ComC 13-Jul-2007
. .
See AlsoKensington International Ltd v Republic of Congo CA 7-Nov-2007
The defendants appealed against orders requiring them to disclose documents in an action regarding the payment of bribes, saying that the requirement effectively required them to incriminate themselves.
Held: The appeal failed. The public . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 12 October 2022; Ref: scu.439671

The Serious Organised Crime Agency v Robb: QBD 30 Mar 2012

The Agency sought an order against a bank account saying it represented the proceeds of crime. Third parties said that having lost sums due to unlawful activities by the defendant, they also had a claim against it.

Judges:

MacKay J

Citations:

[2012] EWHC 803 (QB)

Links:

Bailii

Statutes:

Proceeds of Crime Act 2002 266 243

Criminal Practice, Banking

Updated: 06 October 2022; Ref: scu.452461

Gibson v Minet And Another: 28 Feb 1824

Citations:

[1824] EngR 406, (1824) 1 Car and P 247, (1824) 171 ER 1181

Links:

Commonlii

Jurisdiction:

England and Wales

Citing:

CitedWilliams v Everett And Others 25-Nov-1811
. .

Cited by:

CitedTaurus Petroleum Limited v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq SC 25-Oct-2017
The parties disputed their contract arrangements. It was referred to an arbitration in London, but applying Iraqi law. The respondent failed to meet the award made against it, and the claimant sought to enforce the award here by means of third party . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 05 October 2022; Ref: scu.327397

Bournemouth and Boscombe Athletic Football Club Ltd v Lloyds TSB Bank Plc: ChD 16 Apr 2003

Judges:

The Honourable Mr Justice Peter Smith

Citations:

[2003] EWHC 834 (Ch)

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

Appealed toBournemouth and Boscombe Athletic Football Club Ltd v Lloyds TSB Bank Plc CA 10-Dec-2003
Appeal from refusal of extension of time to serve particulars of claim and strike out. . .

Cited by:

Appeal fromBournemouth and Boscombe Athletic Football Club Ltd v Lloyds TSB Bank Plc CA 10-Dec-2003
Appeal from refusal of extension of time to serve particulars of claim and strike out. . .
Lists of cited by and citing cases may be incomplete.

Banking, Professional Negligence, Litigation Practice

Updated: 05 October 2022; Ref: scu.181384

Shah and Another v HSBC Private Bank (UK) Ltd: CA 30 Nov 2011

Appeal against refusal of permission to amend pleadings. The claimants suffered large losses after the bank delayed implementing his instructions after staff members initiated a report under the 2002 Act. The claimant said that the evidence supporting a claim that the report was made in bad faith had only just come to light.
Held: The appeal was refused. The new evidence did not appear to support the allegation made.

Judges:

Longmore, Moses, Black LJJ

Citations:

[2011] EWCA Civ 1669

Links:

Bailii

Statutes:

Proceeds of Crime Act 2002

Jurisdiction:

England and Wales

Citing:

See AlsoShah and Another v HSBC Private Bank (UK) Ltd QBD 26-Jan-2009
The claimants sought damages after delays by the bank in processing transfer requests. The bank said that the delays were made pending reports of suspected criminal activity. The bank’s delay had stigmatised the claimant causing further losses. The . .
Lists of cited by and citing cases may be incomplete.

Litigation Practice, Banking

Updated: 04 October 2022; Ref: scu.451327

Senex Holdings Ltd v National Westminster Bank Plc: ComC 6 Feb 2012

Application by the defendant under CPR 24.2 (a) (i) for summary judgement against the claimant, Senex Holdings Limited, which sues for a declaration that the Bank is indebted to SHL in the sum of andpound;1 million.

Judges:

Field J

Citations:

[2012] EWHC 131 (Comm)

Links:

Bailii

Jurisdiction:

England and Wales

Contract, Banking

Updated: 04 October 2022; Ref: scu.451219

Barclays Bank Plc v Sutton: QBD 6 Nov 2015

Appeal from a decision striking out the appellant’s Defence and Counter claim and giving summary judgment to the bank on its claim for payment of money due under a guarantee signed by the defendant personally for debts owed by one of his companies.

Judges:

Blake J

Citations:

[2015] EWHC 3192 (QB)

Links:

Bailii

Jurisdiction:

England and Wales

Banking

Updated: 04 October 2022; Ref: scu.554408

Williams v Everett And Others: 25 Nov 1811

Citations:

[1811] EngR 585, (1811) 14 East 582, (1811) 104 ER 725

Links:

Commonlii

Jurisdiction:

England and Wales

Cited by:

CitedGibson v Minet And Another 28-Feb-1824
. .
CitedTaurus Petroleum Limited v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq SC 25-Oct-2017
The parties disputed their contract arrangements. It was referred to an arbitration in London, but applying Iraqi law. The respondent failed to meet the award made against it, and the claimant sought to enforce the award here by means of third party . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 04 October 2022; Ref: scu.339669

Smith v Lloyds TSB Bank Plc: ChD 23 Feb 2005

The respondent declined to produce information held about the claimant saying that it was not held within a filing system so as to bring it within the Act.
Held: ‘the legislature has taken a policy decision not to bring unstructured files within the general scope of the Directive. ‘

Judges:

Laddie, The Hon Mr Justice Laddie

Citations:

[2005] EWHC 246 (Ch)

Links:

Bailii

Statutes:

Data Protection Act 1998

Jurisdiction:

England and Wales

Citing:

CitedJohnson v Medical Defence Union Ltd ChD 9-Nov-2004
The claimant doctor had sought assistance from the defendant, and having been refused it had sought disclosure of its records about him. He had been refused access under the 1998 Act, and now sought access under the Civil Procedure Rules.
CitedDurant v Financial Services Authority CA 8-Dec-2003
The appellant had been unsuccessful in litigation against his former bank. The Financial Services Authority had subsequently investigated his complaint against the bank. Using section 7 of the Data Protection Act 1998, he requested disclosure of his . .
Lists of cited by and citing cases may be incomplete.

Information, Banking

Updated: 01 October 2022; Ref: scu.223168

Alessandra Yarns llc v Tongxiang Baoding Textile Co Ltd: 6 Feb 2015

(Superior Court of Quebec) The Court was asked whether the fraud exception to a letter of credit had been met such that the court should issue an interlocutory injunction to prevent the beneficiary claiming under the letter of credit. There were four criteria that had to be met in order to grant the injunction: (1) urgency; (2) a serious question to be tried or a strong prima facie evidence of fraud by the beneficiary of the credit; (3) irreparable harm; and (4) if the prima facie case is doubtful, the balance of convenience favours granting the injunction. The situs of the debt under the letter of credit was a factor that was relevant to the fourth question.
Held: The situs of a letter of credit is the place in which it is payable citing

Citations:

2015 QCCS 346

Links:

Canlii

Jurisdiction:

Canada

Citing:

AppliedHL Boulton Co v Banque Royale du Canada 1994
(Superior Court of Quebec) The defendant asked the court to decline jurisdiction under article 3135 of the Civil Code, which provides that even though a Quebec authority has jurisdiction to hear a dispute, it may exceptionally decline jurisdiction . .

Cited by:

CitedTaurus Petroleum Limited v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq SC 25-Oct-2017
The parties disputed their contract arrangements. It was referred to an arbitration in London, but applying Iraqi law. The respondent failed to meet the award made against it, and the claimant sought to enforce the award here by means of third party . .
Lists of cited by and citing cases may be incomplete.

Contract, Banking

Updated: 01 October 2022; Ref: scu.646119

Taurus Petroleum Limited v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq: SC 25 Oct 2017

The parties disputed their contract arrangements. It was referred to an arbitration in London, but applying Iraqi law. The respondent failed to meet the award made against it, and the claimant sought to enforce the award here by means of third party debt orders. Issues arose as to who could take the benefit of the letters of credit.
Held: (Lord Mance DPSC and Lord Neuberger of Abbotsbury dissenting) The appeal was allowed. The defendant was, under the contract, and remained the beneficiary of the letters and was the only proper owner of the debts due from the French bank. The Central Bank of Iraq, having no beneficial interest in the contract had no say in the chosen means of execution.
The situs in law of this debt was London, being the legal residence of the debtor.

Judges:

Lord Neuberger, Lord Mance, Lord Clarke, Lord Sumption, Lord Hodge

Citations:

[2017] UKSC 64, UKSC 2015/0199, [2017] WLR(D) 701, [2018] AC 690, [2017] 3 WLR 1170

Links:

Bailii, Bailii Summary, SC, SC Summary, SC 20170321 am Video, SC Summary Video, SC 20170321 pm Video, SC 20170322 am Video, SC 20170322 pm Video, WLRD

Jurisdiction:

England and Wales

Citing:

At ComC (1)Taurus Petroleum Ltd v State Oilmarketing Company ComC 18-Nov-2013
The parties referred their contract disputes to an arbitration in London which was to apply Iraqi law. As to enforcement of the award, the defendant denied that they were situated in London.
Held: The debts were situated in London rather than . .
At ComC (2)Taurus Petroleum Led v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq ComC 18-Nov-2013
. .
Appeal fromTaurus Petroleum Ltd v State Oil Company of The Ministry of Oil, Republic of Iraq CA 28-Jul-2015
The parties had contractual disputes as to letters of credit governed by Iraqi law. The arbitration was in London applying Iraqi law. They now disputed whether the Enforcement of arbitration award was as an award made in London. Each appealed . .
CitedSociete Eram Shipping Company Limited and others v Hong Kong and Shanghai Banking Corp Ltd, Compagnie Internationale de Navigation HL 12-Jun-2003
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 . .
OverruledPower Curber International Ltd v The National Bank of Kuwait CA 1981
The advising bank on a letter of credit was situated in Florida. The place where the credit was payable was North Carolina, and the place where the issuing bank had its place of business was Kuwait.
Held: (Waterhouse J dissenting) The contract . .
CitedHL Boulton Co v Banque Royale du Canada 1994
(Superior Court of Quebec) The defendant asked the court to decline jurisdiction under article 3135 of the Civil Code, which provides that even though a Quebec authority has jurisdiction to hear a dispute, it may exceptionally decline jurisdiction . .
CitedAlessandra Yarns llc v Tongxiang Baoding Textile Co Ltd 6-Feb-2015
(Superior Court of Quebec) The Court was asked whether the fraud exception to a letter of credit had been met such that the court should issue an interlocutory injunction to prevent the beneficiary claiming under the letter of credit. There were . .
CitedRe General Horticultural Company, Ex parte Whitehouse ChD 1886
Wills, to whom a sum had been allowed in a winding up for work done for the liquidator, charged the amount due to him as security for the payment of three debts, the total amount of which exceeded the sum due to him from the company. Notice of the . .
CitedRogers v Whitely QBD 1889
Money in a bank account included money of which the judgment debtor was trustee.
Held: That money could not be ordered to be paid to the judgment creditor who obtained the charging order: ‘he can only obtain payment out of the debtor’s own . .
CitedWilliams v Everett And Others 25-Nov-1811
. .
CitedGibson v Minet And Another 28-Feb-1824
. .
CitedWebb v Stanton CA 1883
A garnishee order was obtained against a trustee purporting to attach the beneficiary’s share of the trust income. No income was however in the trustee’s hands which he was at that time due to pay to the beneficiary.
Held: The garnishee order . .
CitedRekstin v Severo Sibirsko Gosudarstvennoe Aksionernoe Obschestvo Koseverputj and the Bank for Russian Trade Ltd CA 1932
The plaintiff sought to enforce payment of a judgment in his favour against the defendant (the Severo Sibirsko Bureau) by service of a garnishee order nisi on the Bureau’s bank, the Bank for Russian Trade. The order was served less than an hour . .
CitedDunlop and Ranken Ltd v Hendall Steel Structures Ltd CA 1957
There was no debt arising under a building contract which could be the subject of a garnishee order where there was no ’cause of action’ and no debt until an architect’s certificate had been issued.
Lord Goddard CJ said: ‘. . until the . .
CitedMerchant International Company Ltd v Natsionalna Aktsionerna Kompaniia Naftogaz Ukrainy and Another CA 10-Dec-2014
he debt sought to be attached was said to be owed by a bank to the judgment debtor Naftogaz. But the bank had received the money from Naftogaz as the agent bank under a loan agreement for distribution to the loanholders. It was not therefore, in the . .
CitedFerrera v Hardy CA 7-Oct-2015
H appealed from a decision to set aside a third party debt order which he had obtained over a debt he said was due to F from Liverpool City Council in respect of housing benefit owed to F as rent for one of F’s tenants.
Held: A judgment . .
CitedWood v Capita Insurance Services Ltd SC 29-Mar-2017
Construction of term of contract for the sale and purchase of the entire issued share capital of a company.
Held: The appeal was dismissed: ‘the SPA may have become a poor bargain, as it appears that it did not notify the sellers of a warranty . .
Lists of cited by and citing cases may be incomplete.

Banking, International

Updated: 01 October 2022; Ref: scu.597671

Taurus Petroleum Ltd v State Oil Company of The Ministry of Oil, Republic of Iraq: CA 28 Jul 2015

The parties had contractual disputes as to letters of credit governed by Iraqi law. The arbitration was in London applying Iraqi law. They now disputed whether the Enforcement of arbitration award was as an award made in London. Each appealed against elements of the orders made at first instance.
Held: The appeals and cross appeals failed.
Although a bank must carefully assess the creditworthiness of its own customer before agreeing to open a letter of credit, the process of doing so is essentially mechanical. The terms of the credit are likely to be determined largely, if not entirely, by the seller and will be communicated by the buyer to its bank. The bank in its turn will then issue the credit in the terms required, undertaking a liability to the beneficiary against which it will seek an indemnity from its customer. Moore-Bick LJ added that one should therefore be very cautious before construing letters of credit by reference to extraneous circumstances and there was no evidence before the court of the extent to which those engaged in financing the trade in Iraqi oil were or were not generally aware of the arrangements.
The parties disputed the terms of their contract and had undertaken an arbitration in London, but under Iraqi law. There was no reason in principle why a letter of credit should not be issued in favour of joint beneficiaries, as for example if goods or property were being sold by joint owners.

Judges:

Moore-Bick VP CA, Sullivan, Briggs LJJ

Citations:

[2015] EWCA Civ 835, [2016] 1 Lloyd’s Rep 42, [2015] CP Rep 48

Links:

Bailii

Statutes:

State Immunity Act 1978 13(2) 14(4)

Jurisdiction:

England and Wales

Citing:

Appeal fromTaurus Petroleum Ltd v State Oilmarketing Company ComC 18-Nov-2013
The parties referred their contract disputes to an arbitration in London which was to apply Iraqi law. As to enforcement of the award, the defendant denied that they were situated in London.
Held: The debts were situated in London rather than . .
At ComC (2)Taurus Petroleum Led v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq ComC 18-Nov-2013
. .
BindingPower Curber International Ltd v The National Bank of Kuwait CA 1981
The advising bank on a letter of credit was situated in Florida. The place where the credit was payable was North Carolina, and the place where the issuing bank had its place of business was Kuwait.
Held: (Waterhouse J dissenting) The contract . .
CitedRogers v Whitely QBD 1889
Money in a bank account included money of which the judgment debtor was trustee.
Held: That money could not be ordered to be paid to the judgment creditor who obtained the charging order: ‘he can only obtain payment out of the debtor’s own . .

Cited by:

Appeal fromTaurus Petroleum Limited v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq SC 25-Oct-2017
The parties disputed their contract arrangements. It was referred to an arbitration in London, but applying Iraqi law. The respondent failed to meet the award made against it, and the claimant sought to enforce the award here by means of third party . .
Lists of cited by and citing cases may be incomplete.

Arbitration, Banking, International

Updated: 01 October 2022; Ref: scu.550645

Merchant International Company Ltd v Natsionalna Aktsionerna Kompaniia Naftogaz Ukrainy and Another: CA 10 Dec 2014

he debt sought to be attached was said to be owed by a bank to the judgment debtor Naftogaz. But the bank had received the money from Naftogaz as the agent bank under a loan agreement for distribution to the loanholders. It was not therefore, in the bank’s hands, a debt payable to Naftogaz.

Citations:

[2014] EWCA Civ 1603

Links:

Bailii

Jurisdiction:

England and Wales

Cited by:

CitedTaurus Petroleum Limited v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq SC 25-Oct-2017
The parties disputed their contract arrangements. It was referred to an arbitration in London, but applying Iraqi law. The respondent failed to meet the award made against it, and the claimant sought to enforce the award here by means of third party . .
Lists of cited by and citing cases may be incomplete.

Litigation Practice, International, Banking

Updated: 01 October 2022; Ref: scu.539824

Kaupthing Singer and Friedlander Ltd v UBS Ag: ComC 18 Jul 2014

Claim by Kaupthing Singer and Friedlander Limited brought by their administrators, is in respect of US$65 million that the defendant, UBS AG is said to have failed to pay under a foreign exchange transaction made on 1 September 2008.

Judges:

Andrew Smith J

Citations:

[2014] EWHC 2450 (Comm)

Links:

Bailii

Jurisdiction:

England and Wales

Banking

Updated: 29 September 2022; Ref: scu.534643

Power Curber International Ltd v The National Bank of Kuwait: CA 1981

The advising bank on a letter of credit was situated in Florida. The place where the credit was payable was North Carolina, and the place where the issuing bank had its place of business was Kuwait.
Held: (Waterhouse J dissenting) The contract had its closest and most real connection with North Carolina, being the law of the place where the issuing bank’s obligation under the credit fell due. In the case of debts due under letters of credit the situs of the debt was the place of payment.
Lord Denning said: ‘Nor can I agree that the lex situs of the debt was Kuwait. It was in North Carolina. A debt under a letter of credit is different from ordinary debts. They may be situate where the debtor is resident. But a debt under a letter of credit is situate in the place where it is in fact payable against documents. I would hold therefore that Parker J. was right in giving summary judgment against the National Bank of Kuwait for the sums due.’
Griffiths LJ said: ‘Secondly, it was submitted that payment was unlawful according to the lex situs of the debt which it is said is Kuwait. But this is a debt that is owed in American dollars in North Carolina; I do not regard the fact that the bank that owes the debt has a residence in Kuwait as any reason for regarding Kuwait as the lex situs of the debt. The lex situs of the debt is North Carolina, and this ground for giving leave to defend cannot be supported.’
Waterhouse J agreed with the majority as to the result of the appeal but on the lex situs point said: ‘The more difficult issue for me has been that relating to the lex situs of the debt.
A debt is generally to be looked upon as situate in the country where it is properly recoverable or can be enforced and it is noteworthy that the sellers here submitted voluntarily to the dismissal of their earlier proceedings against the bank in North Carolina. We have been told that they did so because of doubts about the jurisdiction of the North Carolina court, which was alleged in the pleadings to be based on the transaction of business by the bank there, acting by itself or through another named bank as its agent. As for the question of residence, the bank has been silent about any residence that it may have within the United States of America. In the absence of any previous binding authority, I have not been persuaded that this debt due under an unconfirmed letter of credit can be regarded as situate in North Carolina merely because there was provision for payment at a branch of a bank used by the sellers in Charlotte: and I do not regard the analogy of a bill of exchange or a security transferable by delivery as helpful.’

Judges:

Lord Denning MR, Griffiths LJ, Waterhouse J

Citations:

[1981] 1 WLR 1233

Jurisdiction:

England and Wales

Citing:

FollowedOffshore International SA v Banco Central SA ChD 1977
A standby letter of credit was issued by a Spanish bank and advised (but not confirmed) by a New York bank payable in New York.
Held: The governing law was the law of New York, as the place where the letter of credit was opened, the documents . .

Cited by:

CitedPt Pan Indonesia Bank Ltd Tbk v Marconi Communications International Ltd CA 27-Apr-2005
The parties disputed the jurisdiction of the English courts over a letter of credit. It foresaw payment here and in sterling, made by the English bank as against the appropriate documents. Authority had been given for service out of the . .
BindingTaurus Petroleum Ltd v State Oil Company of The Ministry of Oil, Republic of Iraq CA 28-Jul-2015
The parties had contractual disputes as to letters of credit governed by Iraqi law. The arbitration was in London applying Iraqi law. They now disputed whether the Enforcement of arbitration award was as an award made in London. Each appealed . .
OverruledTaurus Petroleum Limited v State Oil Marketing Company of The Ministry of Oil, Republic of Iraq SC 25-Oct-2017
The parties disputed their contract arrangements. It was referred to an arbitration in London, but applying Iraqi law. The respondent failed to meet the award made against it, and the claimant sought to enforce the award here by means of third party . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 29 September 2022; Ref: scu.224970

The Royal Bank of Scotland Plc v Chandra and Another: ChD 28 Jan 2010

The bank sought to enforce guarantees supported by a charge on the defendants home. They said that the bank had by its actions in supporting further development of a project, released them from obligations to it.
Held: David Richards J analysed the difference between inadvertent failure to disclose and a deliberate suppression of information, in the context of a confidential husband and wife relationship: ‘Mis-stating the position or misleading the wife is different from an inadvertent failure to disclose, a distinction familiar in the law of misrepresentation. Of course a statement which, though strictly true, is misleading without qualification will fall within these observations of Lord Nicholls. Likewise, a deliberate suppression of information because the husband knows that, if disclosed, it will deter the wife from giving the guarantee will involve an abuse by him of her confidence. It would be unconscionable and rightly categorised as unacceptable means.’

Judges:

Richards J

Citations:

[2010] 1 Lloyds Rep 677, [2010] EWHC 105 (Ch)

Links:

Bailii

Jurisdiction:

England and Wales

Cited by:

CitedHewett v First Plus Financial Group Plc CA 24-Mar-2010
The appellant appealed against a mortgage possession order, saying that she had been misled into signing the charge by a non-disclosure by her husband of an extra-marital affair he was conducting. The bank had not met the standards set in Etridge, . .
Lists of cited by and citing cases may be incomplete.

Banking, Undue Influence

Updated: 27 September 2022; Ref: scu.396379

Commissioners of Customs and Excise v Barclays Bank Plc: ComC 3 Feb 2004

The claimant had obtained orders against two companies who banked with the respondent. Asset freezing orders were served on the bank, but within a short time the customer used the bank’s Faxpay national service to transfer substantial sums outside the bank’s branch controls, and defeat the freezing order. The claimant sought recovery from the bank. What duty of care was owed by the bank?
Held: To take on a duty of care ‘the defendant’s conduct must in the circumstances have been brought home to the claimants and invited the claimant’s reliance on the care with which the information has been provided or the service provided.’

Judges:

The Honourable Mr Justice Colman

Citations:

[2004] EWHC 122 (Comm Court), [2004] 1 WLR 2027

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

CitedZ Ltd v A-Z and AA-LL CA 1982
The court gave directions on how banks and other third parties were to respond to Mareva injunctions. The plaintiff had obtained orders against companies with bank accounts in England. The action was settled, but the banks sougfht clarification.
CitedSmith v Eric S Bush, a firm etc HL 20-Apr-1989
In Smith, the lender instructed a valuer who knew that the buyer and mortgagee were likely to rely on his valuation alone. The valuer said his terms excluded responsibility. The mortgagor had paid an inspection fee to the building society and . .
CitedCaparo Industries Plc v Dickman and others HL 8-Feb-1990
Limitation of Loss from Negligent Mis-statement
The plaintiffs sought damages from accountants for negligence. They had acquired shares in a target company and, relying upon the published and audited accounts which overstated the company’s earnings, they purchased further shares.
Held: The . .
CitedZ Bank v DI ChD 1994
A company in contempt of court may have acted with a greater or lesser degree of culpability and the court has a discretion to impose punishment commensurate with that culpability, although some penalty is likely to be appropriate unless the . .
CitedHedley Byrne and Co Ltd v Heller and Partners Ltd HL 28-May-1963
Banker’s Liability for Negligent Reference
The appellants were advertising agents. They were liable themselves for advertising space taken for a client, and had sought a financial reference from the defendant bankers to the client. The reference was negligent, but the bankers denied any . .
CitedHenderson v Merrett Syndicates Ltd HL 25-Jul-1994
Lloyds Agents Owe Care Duty to Member; no Contract
Managing agents conducted the financial affairs of the Lloyds Names belonging to the syndicates under their charge. It was alleged that they managed these affairs with a lack of due careleading to enormous losses.
Held: The assumption of . .
CitedWhite and Another v Jones and Another HL 16-Feb-1995
Will Drafter liable in Negligence to Beneficiary
A solicitor drawing a will may be liable in negligence to a potential beneficiary, having unduly delayed in the drawing of the will. The Hedley Byrne principle was ‘founded upon an assumption of responsibility.’ Obligations may occasionally arise . .
CitedAl-Kandari v J R Brown and Co CA 1988
A solicitor had undertaken to look after certain passports, but failed to do so. The husband had twice previously kidnapped his children whose custody was an issue before the court. Once the husband regained the passports, he again fled with the . .
CitedArthur JS Hall and Co (A Firm) v Simons; Barratt v Woolf Seddon (A Firm); Harris v Schofield Roberts and Hill (A Firm) HL 20-Jul-2000
Clients sued their solicitors for negligence. The solicitors responded by claiming that, when acting as advocates, they had the same immunities granted to barristers.
Held: The immunity from suit for negligence enjoyed by advocates acting in . .
CitedDean v Allin and Watts (a Firm) CA 23-May-2001
An unsophisticated lender running the business of a car mechanic wanted to lend money to borrowers on the security of real property owned by an associate of the borrowers. The borrowers instructed the defendant solicitors to give effect to this . .
CitedX (Minors) v Bedfordshire County Council; M (A Minor) and Another v Newham London Borough Council; Etc HL 29-Jun-1995
Liability in Damages on Statute Breach to be Clear
Damages were to be awarded against a Local Authority for breach of statutory duty in a care case only if the statute was clear that damages were capable of being awarded. in the ordinary case a breach of statutory duty does not, by itself, give rise . .
CitedBusiness Computers International Ltd v Registrar of Companies ChD 1988
A winding up petition was served at an address which was not that of the plaintiff’s registered office, and nobody appeared at the hearing. A winding up order was made against the plaintiff company, which now sued the solicitors who had misserved . .
CitedCheltenham and Gloucester Building Society v Ricketts CA 1993
The court set out the principles to be applied when considering cross undertakings in damages: ‘(1) Save in special cases an undertaking as to damages is the price which the person asking for an interlocutory injunction has to pay for its grant. The . .
CitedWilliams and Another v Natural Life Health Foods Ltd and Another HL 30-Apr-1998
A company director was not personally reliable in negligence for bad advice given by him as director unless it could clearly be shown that he had willingly accepted such personal responsibility. A special relationship involving an assumption of . .
CitedConnolly-Martin v Davis CA 27-May-1999
A claim was brought by a party against counsel for his opponent who had gone beyond his authority in giving an undertaking for his client.
Held: The claim had no prospect of success, and had been struck out correctly. Counsel offering to the . .
CitedCann v Wilson HL 1888
A surveyor was held to have a duty of care to the lender when he was engaged by the purchaser of a property. . .
CitedMinistry of Housing and Local Government v Sharp CA 1970
Mr Sharp was the local land registrar with statutory duty to maintain the local registry, issuing certificates in response to search requests. A clerk who had been seconded by another Council to assist him negligently issued an inaccurate . .
CitedYianni v Edwin Evans and Sons ChD 1981
The respondent valuers reported to a building society that a property would be a sufficient security. The purchaser relied on that report to purchase the property, ignoring the advice in the lender’s form to obtain a full survey. The property was . .
CitedPeabody Donation Fund v Sir Lindsay Parkinson and Co Ltd HL 18-Oct-1983
Architects proposed a system of flexible drains for a site, but the contractors persuaded them to accept rigid drains which once laid proved inadequate at considerable cost. The local authority had permitted the departure from the plans.
Held: . .

Cited by:

Appeal fromCustoms and Excise v Barclays Bank Plc CA 22-Nov-2004
The claimant had obtained judgment against customers of the defendant, and then freezing orders for the accounts. The defendants inadvertently or negligently allowed sums to be transferred from the accounts. The claimants sought repayment by the . .
CitedErnst Kastner v Marc Jason, Davis Sherman, Brigitte Sherman CA 2-Dec-2004
The parties had agreed that their dispute should be resolved before the Jewish Beth Din according to Jewish substantive and procedural law. K was granted an interim freezing order. The defendant sold the asset, and K sought to assert a charge.
At First InstanceHM Customs and Excise v Barclays Bank Plc HL 21-Jun-2006
The claimant had served an asset freezing order on the bank in respect of one of its customers. The bank paid out on a cheque inadvertently as to the order. The Commissioners claimed against the bank in negligence. The bank denied any duty of care. . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 25 September 2022; Ref: scu.192612

Harrison and Another v Black Horse Ltd: CA 12 Oct 2011

The appellant sought under section 104A to recover a Payment Protection Insurance premium paid in support of a loan. The borrower dealt directly with the lender, who acted as an intermediary with the insurer. The commission taken by the lender was 87%.
Held: Tomlinson LJ described this level of commission as ‘quite startling’, adding that there would be ‘many who would regard it as unacceptable conduct on the part of lending institutions to have profited in this way’. However that of itself was not enough to render the relationship with the consumer unfair. The lender had not breached the applicable rules either as to the amount of commission or as to the failure to disclose it. He said: ‘the touchstone must in my view be the standard imposed by the regulatory authorities pursuant to their statutory duties, not resort to a visceral instinct that the relevant conduct is beyond the Pale, In that regard it is clear that the ICOB regime, after due consultation and consideration, does not require the disclosure of the receipt of commission. It would be an anomalous result if a lender was obliged to disclose receipt of a commission in order to escape a finding of unfairness under section 140A of the Act but yet not obliged to disclose it pursuant to the statutorily imposed regulatory framework under which it operates.’

Judges:

Lord Neuberger MR, Patten, Tomlinson LJJ

Citations:

[2011] EWCA Civ 1128

Links:

Bailii

Statutes:

Consumer Credit Act 1974 140A 140B

Jurisdiction:

England and Wales

Cited by:

BindingPlevin v Paragon Personal Finance Ltd and Another Misc 4-Oct-2012
Manchester County Court – The claimant sought repayment of insurance premiums paid as payment protection insurance when aking out a loan with the defendants as advised by the second defendant. The second defendant was in liquidation by the time her . .
See AlsoHarrison and Another v Black Horse Ltd SCCO 7-Mar-2013
. .
BindingPlevin v Paragon Personal Finance Ltd and Another CA 16-Dec-2013
The claimant sought repayment of a personal protection insurance premium paid to her broker. The broker was now in insolvent liquidation, and she sought to recover the premium from the next intermediary.
Held: Any limitation of section . .
DisapprovedPlevin v Paragon Personal Finance Ltd SC 12-Nov-2014
PPI Sale – No Recovery from Remote Parties
The claimant sought repayment of payment protection insurance premiums paid by her under a policy with Norwich Union. The immediate broker arranging the loan was now insolvent, and she sought repayment from the second and other level intermediaties. . .
Lists of cited by and citing cases may be incomplete.

Consumer, Banking

Updated: 20 September 2022; Ref: scu.445400

Rubenstein v HSBC Bank Plc: QBD 2 Sep 2011

The claimant alleged that the defendant bank has missold to him securities in the form of an AIG Premier Access Bond.
Held: Though the bank had acted negligently and otherwise incorrectly, those faults were not the cause of the substantial part of the claimant’s losses.

Judges:

Jonathan Parker J

Citations:

[2011] 2 CLC 459, [2011] EWHC 2304 (QB), [2012] PNLR 7

Links:

Bailii

Statutes:

The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 53, Financial Services and Markets Act 2000

Jurisdiction:

England and Wales

Cited by:

Appeal fromRubenstein v HSBC Bank Plc CA 12-Sep-2012
The customer appealed after his bank was found to have been negligent in its sales to him of investments, but the losses were found to have derived from general market turmil. . .
At first instanceRubenstein v HSBC Bank CA 12-Sep-2012
Order finalised after successful appeal in bank mis-selling claim. . .
Lists of cited by and citing cases may be incomplete.

Banking, Professional Negligence

Updated: 20 September 2022; Ref: scu.444872

Byers and Others v Samba Financial Group: ChD 24 Apr 2020

Judges:

The Hon. Mr Justice Fancourt

Citations:

[2020] EWHC 1006 (Ch)

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

See AlsoByers and Others v Samba Financial Group ChD 20-Dec-2019
Application by the defendant issued for an extension of the date by which the defendant was required to give standard disclosure. . .
See AlsoByers and Others v Samba Financial Group ChD 8-Apr-2020
. .

Cited by:

See AlsoByers and Others v Samba Financial Group ChD 2-Oct-2020
. .
See AlsoByers and Others v Samba Financial Group (230) ChD 15-Jan-2021
Reasons for grant of leave to appeal . .
See AlsoByers and Others v Samba Financial Group (60) ChD 15-Jan-2021
. .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 19 September 2022; Ref: scu.652320

Sarwar v The Royal Bank of Scotland Plc (Rev 1): ChD 27 Jul 2011

The claimant appealed against a finding of indebtedness to the bank. He had said at trial that the bank had been charging interest at 25%. The bank denied this, but after trial it became clear that he had been correct. The bank argued for abuse of process, res judicata and estoppel, and requested a strike out of the claim.
Held: There could be no action or issue estoppel. The allegations included matters not previously at issue: ‘the appeal must be allowed. I view that result with satisfaction. Many might ask why the Bank’s response to realising that it had provided incorrect information to Blackburne J and to the (its) Customer would not be to seek to put that right. It is obvious that had the Bank provided correct information Blackburne J would have ensured there was a means by which its entitlement to charge interest at that rate could be examined. Putting right what the Bank had done wrong would involve the Bank’s supporting a course that would allow examination of its entitlement to charge interest at 25%, rather than seeking to take advantage its own error by arguing that the matter was closed.’

Judges:

Knowles QC J

Citations:

[2011] EWHC 2233 (Ch)

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

CitedHenderson v Henderson 20-Jul-1843
Abuse of Process and Re-litigation
The court set down the principles to be applied in abuse of process cases, where a matter was raised again which should have been dealt with in earlier proceedings.
Sir James Wigram VC said: ‘In trying this question I believe I state the rule . .
CitedJohnson v Gore Wood and Co HL 14-Dec-2000
Shareholder May Sue for Additional Personal Losses
A company brought a claim of negligence against its solicitors, and, after that claim was settled, the company’s owner brought a separate claim in respect of the same subject-matter.
Held: It need not be an abuse of the court for a shareholder . .
CitedRepublic of India and Others v India Steamship Co Ltd (‘The Indian Endurance and The Indian Grace’) (No 1) HL 29-Mar-1993
Munitions were being carried to Cochin on board the defendants’ vessel. Some was jettisoned in a fire and the remainder was damaged. The cargo owners sought damages in India for short delivery under the bills of lading, as to the jettisoned cargo . .
CitedRegina v Inhabitants of the Township of Hartington Middle Quarter 22-Feb-1855
Coleridge J said: ‘The question then is, whether the former judgment concludes, not merely as to the point actually decided, but as to a matter which it was necessary to decide, and which was actually decided, as the groundwork of the decision . .
CitedThoday v Thoday CA 1964
The court discussed the difference between issue estoppel, and action estoppel: ‘The particular type of estoppel relied upon by the husband is estoppel per rem judicatam. This is a generic term which in modern law includes two species. The first . .
CitedBrisbane City Council v Attorney General for Queensland PC 1978
Lord Wilberforce approved Somervell LJ’s words in Greenhalgh: ‘This is the true basis of the doctrine in Henderson v Henderson and it ought only to be applied when the facts are such as to amount to an abuse: otherwise there is a danger of a party . .
CitedLetang v Cooper CA 15-Jun-1964
The plaintiff, injured in an accident, pleaded trespass to the person, which was not a breach of duty within the proviso to the section, in order to achieve the advantages of a six-year limitation period.
Held: Trespass is strictly speaking . .
Lists of cited by and citing cases may be incomplete.

Banking, Estoppel

Updated: 17 September 2022; Ref: scu.443238

Perpetual Trustee Company Ltd and Another v BNY Corporate Trustee Services Ltd and Others: CA 6 Nov 2009

The court considered the extent of the so-called anti-deprivation rule which would avoid a contract designed to deprive creditors of an asset on the insolvency of a party to the contract. The claimant appealed a finding that the rule did not apply to synthetic collateralised debt obligations.
Held: A transaction completed before the insolvency act need not be caught. The particular contractual arrangements here did not fall within the anti-deprivation rule, and the provisions were valid. The Collateral was acquired with money provided by the Noteholders and that the change in priorities was included to ensure that the Noteholders were repaid out of those assets.

Judges:

Lord Neuberger of Abbotsbury, Master of the Rolls, Lord Justice Longmore and Lord Justice Patten

Citations:

[2009] EWCA Civ 1160, Times 16-Nov-2009, [2010] BCC 59, [2010] 3 WLR 87, [2010] 1 BCLC 747, [2010] Bus LR 632, [2010] BPIR 174, [2010] Ch 347

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

CitedEx parte Jay, in re Harrison CA 26-Feb-1880
A builder agreed with the owner of the land on which he was to build houses that upon his bankruptcy all the building materials on the land should become absolutely forfeited to the owner. The builder than charged the materials, but this was not . .
Appeal fromPerpetual Trustee Co Ltd v BNY Corporate Trustee Services Ltd and Another ChD 28-Jul-2009
The parties had entered into complicated financial arrangements effectively providing credit insurance. On the insolvency of Lehman brothers, a claim was made.
Held: The contractual provisions were effective as a matter of English law and, in . .

Cited by:

Appeal FromBelmont Park Investments Pty Ltd v BNY Corporate Trustee Services Ltd and Another SC 27-Jul-2011
Complex financial instruments insured the indebtedness of Lehman Brothers. On that company’s insolvency a claim was made. It was said that provisions in the documents offended the rule against the anti-deprivation rule. The courts below had upheld . .
See AlsoPerpetual Trustee Company Ltd v BNY Corporate Trustee Services Ltd and Another ChD 17-Nov-2009
. .
Lists of cited by and citing cases may be incomplete.

Contract, Banking, Insolvency

Updated: 17 September 2022; Ref: scu.377779

National Westminster Bank v Powney: CA 1990

The limitation period has nothing to do with the procedural machinery of enforcing a judgment when one was obtained.

Judges:

Slade LJ

Citations:

[1991] Ch 339, [1990] 2 WLR 1084, [1990] 2 All ER 416, [1990] 134 SJ 28

Jurisdiction:

England and Wales

Citing:

AppliedWT Lamb and Sons v Rider CA 1948
An interlocutory order is generally not regarded as final in the sense of barring a further application on the ground of res judicata: ‘Execution is essentially a matter of procedure – machinery which the Court can, subject to the rules from time to . .
AppliedSurrendra Overseas Ltd v Government of Sri Lanka 1977
A debtor can only be held to have acknowledged the claim if he has in effect admitted his legal liability to pay that which the plaintiff seeks to recover. An acknowledgement of part only of a debt cannot operate to acknowledge more.
Kerr J . .

Cited by:

AppliedLowsley and Another v Forbes CA 21-Mar-1996
The statutory time limit under the Limitation Act applied only to the right to take substantive proceedings and had nothing whatever to do with the procedural machinery for enforcing a judgment when one was obtained. The Act of 1875 brought about a . .
CitedNational Ability Sa v Tinna Oils and Chemicals Ltd CA 11-Dec-2009
Implied promise to pay arbitral award
The parties disputed how limitation affects the enforcement of an arbitration award. More than six years had passed since the award had been made, and the defendant said it was out of time.
Held: A party can enforce an award either by ordinary . .
Lists of cited by and citing cases may be incomplete.

Banking, Limitation

Updated: 16 September 2022; Ref: scu.183482

Lehman Brothers International (Europe) v Exotix Partners Llp: ChD 9 Sep 2019

The parties had contracted to trade global depository notes issued by the Peruvian government. Each made mistakes as to their true value, thinking them scraps worth a few thousand dollars, whereas their true value was over $8m. On the defendant recognising their worth, they sought to sell and pocket the profit. The claimant sought restitutionary relief. The court now considered what evidence was to be admitted to assist interpretation of the contract.
Held: ‘on an objective interpretation of the Trade set in its admissible factual matrix and having regard to the admissible documentation recording and/or implementing it, its subject-matter was a specified notional amount of GDNs stated in PENs with a price prescribed and calculated accordingly.’ and ‘ in the commercial world, any dispute as to the subject-matter of the sale which does not take into account the price agreed is nonsensical: the two march together and in the event of any uncertainty as to subject-matter the one helps clarify the other. ‘

Judges:

Hildyard J

Citations:

[2019] EWHC 2380 (Ch), [2019] WLR(D) 525

Links:

Bailii, WLRD

Jurisdiction:

England and Wales

Citing:

CitedInvestors Compensation Scheme Ltd v West Bromwich Building Society HL 19-Jun-1997
Account taken of circumstances wihout ambiguity
The respondent gave advice on home income plans. The individual claimants had assigned their initial claims to the scheme, but later sought also to have their mortgages in favour of the respondent set aside.
Held: Investors having once . .
CitedBank of Credit and Commerce International SA v Ali, Khan and others (No 1); BCCI v Ali HL 1-Mar-2001
Cere Needed Releasing Future Claims
A compromise agreement which appeared to claim to settle all outstanding claims between the employee and employer, did not prevent the employee later claiming for stigma losses where, at the time of the agreement, the circumstances which might lead . .
CitedChartbrook Ltd v Persimmon Homes Ltd and Others HL 1-Jul-2009
Mutual Knowledge admissible to construe contract
The parties had entered into a development contract in respect of a site in Wandsworth, under which balancing compensation was to be paid. They disagreed as to its calculation. Persimmon sought rectification to reflect the negotiations.
Held: . .
CitedSigma Finance Corporation, Re; (in administrative receivership) SC 29-Oct-2009
The court considered how the losses of the insolvent company were to be distributed as between secured creditors and preferential creditors, given the terms of the applicable trust deed.
Held: The court considered the interpretations of the . .
CitedRainy Sky Sa and Others v Kookmin Bank SC 2-Nov-2011
Commercial Sense Used to Interpret Contract
The Court was asked as to the role of commercial good sense in the construction of a term in a contract which was open to alternative interpretations.
Held: The appeal succeeded. In such a case the court should adopt the more, rather than the . .
CitedGladman Commercial Properties v Fisher Hargreaves Proctor and Others CA 14-Nov-2013
The claimant appealed against the striking out of his claims for fraudulent or negligent misrepresentation as to the suitability for deveopment of two former fire service properties. The court had said that a settlement with co-tortfeasors operated . .
CitedMarley v Rawlings and Another SC 22-Jan-2014
A husband and wife had each executed the will which had been prepared for the other, owing to an oversight on the part of their solicitor; the question which arose was whether the will of the husband, who died after his wife, was valid. The parties . .
CitedChallinor and 20 Others v Juliet Bellis and Co and Egan ChD 19-Mar-2013
The court considered the correct approach to the award of statutory interest.
Held: Hildyard J said: ‘As to (1), it seems to me that the Court’s overall approach in the authorities cited to me is to distinguish between (a) cases relating to . .
CitedHamid (T/A Hamid Properties) v Francis Bradshaw Partnership CA 2-May-2013
. .
CitedRevenue and Customs v Secret Hotels2 Ltd SC 5-Mar-2014
The Court was asked as to: ‘the liability for Value Added Tax of a company which markets and arranges holiday accommodation through an on-line website. The outcome turns on the appropriate characterisation of the relationship between the company, . .
CitedArnold v Britton and Others SC 10-Jun-2015
Absurdity did not defeat a clear clause
A standard lease of plots on a caravan park, contained a provision which appeared to increase the rent by 10% in each year. The tenants argued that such a substantial increase could not have been intended.
Held: The tenants’ appeal failed . .
CitedWood v Capita Insurance Services Ltd SC 29-Mar-2017
Construction of term of contract for the sale and purchase of the entire issued share capital of a company.
Held: The appeal was dismissed: ‘the SPA may have become a poor bargain, as it appears that it did not notify the sellers of a warranty . .
CitedEW Savory Ltd v The World of Golf Limited ChD 1914
The Court was asked to ascertain the particular items making up the subject matter of an assignment of copyright in, inter alia, ‘four golfing subjects’ as set out in a receipt.
Held: Neville J said: ‘Then it is said that there is not a . .
CitedLiverpool City Council v Irwin HL 31-Mar-1976
The House found it to be an implied term of a tenancy agreement that the lessor was to be responsible for repairing and lighting the common parts of the building of which the premises formed part. In analysing the different types of contract case in . .
CitedPolicie CR, Krajske reditelstvi policie Usteckeho kraje, odbor cizinecke policie v Al Chodor and Others ECJ 15-Mar-2017
Police detention of Immigrants to follow rules
ECJ (Judgment) Reference for a preliminary ruling – Criteria and mechanisms for determining the Member State responsible for examining an application for international protection – Regulation (EU) No 604/2013 . .
CitedAli v Petroleum Company of Trinidad and Tobago (Trinidad and Tobago) PC 13-Feb-2017
(Trinidad and Tobago) The Board considered the test for when the implication of a contractual term was necessary.
Held: The defendant would not have chosen the claimant for redundancy if he had not accepted voluntary redundancy. The term . .
CitedCarmichael and Another v National Power Plc HL 24-Jun-1999
Tour guides were engaged to act ‘on a casual as required basis’. The guides later claimed to be employees and therefore entitled by statute to a written statement of their terms of employment. Their case was that an exchange of correspondence . .
CitedCounty Securities Pty Ltd v Challenger Group Holdings Pty Ltd 14-Aug-2008
(Supreme Court of New South Wales – Court of Appeal) The court considered a transaction with two parts, one of which (for the transfer of certain Equity Swaps) was wholly in writing; and the other part of which (a hedge involving the acquisition of . .
CitedMarks and Spencer Plc v BNP Paribas Securities Services Trust Company (Jersey) Ltd and Another SC 2-Dec-2015
The Court considered whether, on exercising a break clause in a lease, the tenant was entitled to recover rent paid in advance.
Held: The appeal failed. The Court of Appeal had imposed what was established law. The test for whether a clause . .
CitedCrema v Cenkos Securities Plc CA 16-Dec-2010
C sought payment of broker fees after assisting in raising funds for a venture capital company. The parties disputed the terms as to when payment was to be made.
Held: The appeal was allowed. The evidence did not allow the inference of the . .
CitedNorcross and Others v Georgallides (Estate of) ComC 14-Aug-2015
Allegations of diversion of club assets to private company. . .
CitedTidal Energy Ltd v Bank of Scotland Plc CA 31-Jul-2014
Lord Justice Floyd said: ‘A customer gives its bank (‘the remitting bank’) instructions to pay one of its suppliers using the clearing houses automated payment system (‘CHAPS’). The instructions include the correct name of the supplier whom the . .
CitedIn re Sea Containers Services Ltd ChD 19-Sep-2012
. .
CitedBell v Lever Brothers Ltd HL 15-Dec-1931
Contract – Mutual Mistake Test
Bell was director and chairman of Niger, a subsidiary of Lever Brothers Ltd who dismissed him, offering and paying pounds 30,000 compensation. Lever then discovered that Mr Bell had made secret profits at the expense of Niger for which he could have . .
CitedAssociated Japanese Bank (International) Ltd v Credit du Nord SA 1988
A contract of guarantee was made, but based upon a term of fundamental importance which was mistaken as to the existence of certain machines.
Held: The court must first look to the nature of the purported agreement. Steyn J said: ‘Logically, . .
CitedLoveridge and Loveridge v Healey CA 20-Feb-2004
The landowner sought to recover possession of land occupied under an agreement by a mobile home owner.
Held: It was necessary for the land owner to show that he had complied with the requirements under the Act. It was insufficient for the . .
CitedGreat Peace Shipping Ltd v Tsavliris (International) Ltd CA 14-Oct-2002
The parties contracted for the hire of a ship. They were each under a mistaken impression as to its position, and a penalty became payable. The hirer claimed that the equitable doctrine of mutual mistake should forgive him liability.
Held: . .
CitedThe Co-Operative Bank Plc v Hayes Freehold Ltd and Others ChD 20-Jul-2017
. .
CitedThe Moorcock CA 1889
Unless restricted by something else, an employer ought to find work to enable a workman to perform his part of the bargain, namely, to do his work. A term will be implied into a contract only to the extent required to give the contract efficacy: ‘if . .
Lists of cited by and citing cases may be incomplete.

Banking, Equity

Updated: 15 September 2022; Ref: scu.640898

HSH Investment Holdings Coinvest-C And HSH Investment Holdings FSO v Commission: ECFI 12 Nov 2015

ECJ Judgment – State aid – Banking – HSH Nordbank Restructuring – Decision declaring the aid compatible with the internal market under certain conditions – Action for annulment – Not individually concerned – a minority shareholder of the aid recipient – Meaning of ‘ distinct interest – Partial inadmissibility – capital Dilution

Citations:

T-499/12, [2015] EUECJ T-499/12, ECLI: EU: T : 2015 840

Links:

Bailii

Jurisdiction:

European

Banking

Updated: 15 September 2022; Ref: scu.554654

National Westminster Bank v Frankham: QBD 10 May 2013

Appeal from the order of Master Leslie made on 3 October 2012 whereby he refused permission to the appellant, Miss June Frankham to amend her defence and counterclaim in an action brought against her by the National Westminster Bank to recover moneys lent. The master also ordered that her existing defence and counterclaim be struck out and that there be judgment for the bank for pounds 1,611,561.23.

Judges:

Sir Raymond Jack

Citations:

[2013] EWHC 1199 (QB)

Links:

Bailii

Jurisdiction:

England and Wales

Banking

Updated: 15 September 2022; Ref: scu.509116

Greenclose Ltd v National Westminster Bank Plc: ChD 14 Apr 2014

The court was aske whether the Defendant Bank had validly exercised its contractual right to extend the term of a 5 year interest rate collar transaction for a further two years by giving timely notice to the Claimant.

Judges:

Andrews DBE J

Citations:

[2014] EWHC 1156 (Ch), [2014] WLR(D) 173,

Links:

Bailii, WLRD

Jurisdiction:

England and Wales

Banking

Updated: 14 September 2022; Ref: scu.523741

Attorney General’s Reference (No 1 of 1995); Regina v B; Regina v F: CACD 30 Jan 1996

The offence of accepting an unauthorised deposit requires both knowledge of the act and an agreement to it. Where ‘consent’ is alleged against him, a defendant has to be proved to know the material facts which constitute the offence by the body corporate and to have agreed to its conduct of the business on the basis of those facts.

Judges:

Lord Taylor of Gosforth CJ

Citations:

Times 30-Jan-1996, Gazette 14-Feb-1996, [1996] 1 WLR 970

Statutes:

Banking Act 1987 3 96(1)

Jurisdiction:

England and Wales

Cited by:

CitedChargot Limited (T/A Contract Services) and Others, Regina v HL 10-Dec-2008
The victim died on a farm when his dumper truck overturned burying him in its load.
Held: The prosecutor needed to establish a prima facie case that the results required by the Act had not been achieved. He need only establish that a risk of . .
Lists of cited by and citing cases may be incomplete.

Banking, Crime

Updated: 13 September 2022; Ref: scu.77960

Tidal Energy Ltd v Bank of Scotland Plc: CA 31 Jul 2014

Lord Justice Floyd said: ‘A customer gives its bank (‘the remitting bank’) instructions to pay one of its suppliers using the clearing houses automated payment system (‘CHAPS’). The instructions include the correct name of the supplier whom the customer wishes to pay. However, the instructions also include numerical data (account number and sort code) which the customer believes, wrongly, to be the bank account of the supplier at another bank (‘the receiving bank’). In fact, although there is an account corresponding to those numerical data at the receiving bank, it is in the name of, and belongs to, a third party, apparently unconnected with the supplier or the customer. The receiving bank does not check the name on the account to confirm that it corresponds to the name of the supplier, because it is not banking practice to do so. Once the amount of the transfer is credited to the third party’s account, it is withdrawn. Is the remitting bank entitled in these circumstances to debit the customer’s account with the amount transferred? That is the issue which arises on this appeal. It raises a short point of construction of the instructions which the customer gave to the remitting bank on the bank’s standard transfer form.’

Judges:

Dyson L MR, Tomlinson, Floyd LJJ

Citations:

[2014] EWCA Civ 1107, [2014] WLR(D) 369, [2014] Bus LR 1167

Links:

Bailii, WLRD

Jurisdiction:

England and Wales

Cited by:

CitedLehman Brothers International (Europe) v Exotix Partners Llp ChD 9-Sep-2019
The parties had contracted to trade global depository notes issued by the Peruvian government. Each made mistakes as to their true value, thinking them scraps worth a few thousand dollars, whereas their true value was over $8m. On the defendant . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 13 September 2022; Ref: scu.535460

National Stadium Project (Grenada) Corp v NH International (Caribbean) Ltd: PC 19 Oct 2020

(From the Court of Appeal of the Republic of Trinidad and Tobago) ownership of a fund of money held in a bank account pursuant to a freezing order made by the High Court

Judges:

Lord Reed, Lord Lloyd-Jones, Lord Briggs, Lady Arden, Lord Sales

Citations:

[2020] UKPC 25

Links:

Bailii

Jurisdiction:

England and Wales

Banking

Updated: 12 September 2022; Ref: scu.659455

Carse v Coppen: IHCS 8 Dec 1950

The court considered the inability to create a floating charge over a company’s assets in Scots law. It was conceded that a company registered in Scotland could not create a valid and effectual floating charge over its assets in Scotland, but it was contended that it had done so over its assets in England. This argument was rejected. Lord President Cooper said that a floating charge was utterly repugnant to the principles of Scots law, which did not recognise it as creating a security at all. The reforms in the law which had been effected because of the many criticisms that had been directed against the injustices capable of being inflicted on the trade creditors by the use of floating charges had been expressly confined to companies registered in England. It was unthinkable that this could have been done except upon the view that companies registered in Scotland and subject to Scots law could not create floating charges.

Judges:

Lord President Cooper

Citations:

1951 SC 233, [1950] ScotCS CSIH – 5

Links:

Bailii

Jurisdiction:

Scotland

Cited by:

CitedNational Westminster Bank plc v Spectrum Plus Limited and others HL 30-Jun-2005
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 . .
CitedSharp and Others v Woolwich Building Society HL 6-Feb-1997
The House was asked: what is meant by the word property in a floating charge and in section 53(7) of the 1986 Act which provides for the effect of the appointment of a receiver by the holder of such a charge in the following terms: ‘(7) On the . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 11 September 2022; Ref: scu.228297

In re United Railways of the Havana v Regla Warehouses Ltd: CA 1960

There had been a financing transaction by way of a lease by a Pennsylvania corporation, as trustee for foreign bondholders, to an English company carrying on business in Cuba, of assets in Cuba. By a Cuban decree the assets were transferred to the Cuban government and the company was put into liquidation in England. The liquidators rejected a proof by the trustees for the payments due under the lease on the ground that the Cuban decree had transferred liability to the Cuban government. The court did not accept that the decree had this effect, but, for argument considered whether it would have been effective to discharge the company’s liability. This depended on whether one applied the lex situs of the debt (Cuba) or the proper law of the lease (Pennsylvania).
Held: The transaction was a statutory novation; the extinction of the liability of one debtor and its replacement by the liability of another. These two aspects of the transaction were not necessarily governed by the same law and that the question of whether the one debtor was discharged was governed by the proper law of the debt. The court rejected an analogy with the question of whether the benefit of a debt had been transferred to another person. ‘The contractual right to receive payment of a debt is an item of property, that is to say, a chose in action. It can be transferred by the creditor to a third party, but the validity of the transfer necessarily depends upon the lex situs, because the courts of the country where the debt is have jurisdiction over the title to it. Novation, on the other hand, does not involve the transfer of any property at all, for, as we have already pointed out, it comprises the annulment of one debt and the creation of another. Moreover, in novation a creditor may be vitally prejudiced, whereas it is immaterial to a debtor to whom he pays his debt provided that he gets a good discharge for it.’

Judges:

Jenkins LJ

Citations:

[1960] Ch 52

Jurisdiction:

England and Wales

Cited by:

CitedWight, Pilling, Mackey v Eckhardt Marine GmbH PC 14-May-2003
(Cayman Islands) An international bank went into liquidation in the Cayman Islands, with liabilities in Bangladesh. A new bank was created in Bangladesh, and the applicants sought to make the new bank liable, and through them the liquidators.
Appeal fromIn re United Railways of Havana and Regla Warehouses Ltd; Tomkinson v First Pennsylvania Banking and Trust Co HL 1960
A sum was held to be due from that company in US dollars under a lease and another agreement which were both governed by the law of Pennsylvania.
Held: The sum provable in the liquidation of the company was to be converted at the rates of . .
CitedLesotho Highlands Development Authority v Impregilo Spa and others HL 30-Jun-2005
The House had to consider whether the arbitrator had acted in excess of his powers under s38, saying the arbitrator had misconstrued the contract. The arbitrator had made his award in different currencies.
Held: The question remained whether . .
CitedGomez and others v Vives CA 3-Oct-2008
The claimant appealed a finding that the court did not have jurisdiction over income payable to a trust governed by English law under which the claimant was beneficiary.
Held: The appeal failed in part. Because Article 5 is in derogation from . .
CitedGlobal Distressed Alpha Fund 1 Ltd Partnership v Pt Bakrie Investindo ComC 17-Feb-2011
Action on an instrument of guarantee.
Held: judgment for the Claimant in respect of the principal sum of US$2m. and such interest payments as were due. . .
Lists of cited by and citing cases may be incomplete.

Banking, Insolvency, Contract

Updated: 11 September 2022; Ref: scu.183832

Wight, Pilling, Mackey v Eckhardt Marine GmbH: PC 14 May 2003

(Cayman Islands) An international bank went into liquidation in the Cayman Islands, with liabilities in Bangladesh. A new bank was created in Bangladesh, and the applicants sought to make the new bank liable, and through them the liquidators.
Held: The insolvency discharged the debts and the claimants had no case. The intention had been to isolate and preserve the Bangladeshi debts against the liquidation. The winding up order had had no effect on the respondent’s debt, its situs or its proper law. It had been provable even though the lex situs and proper law were both in Bangladesh.
Lord Hoffmann said: ‘The winding up leaves the debts of the creditors untouched. It only effects the way in which they can be enforced. When the order is made, ordinary proceedings against the company are stayed . . The creditors are confined to a collective enforcement procedure that results in pari passu distribution of the company’s assets. The winding up does not either create new substantive rights in the creditors or destroy the old ones. Their debts, if they are owing, remain debts throughout. They are discharged by the winding up only to the extent that they are paid out of dividends. But when the process of distribution is complete, there are no further assets against which they can be enforced. There is no equivalent of the discharge of a personal bankrupt which extinguishes his debt.’

Judges:

Lord Hoffmann, Lord Nolan, Lord Hobhouse of Woodborough, Lord Scott of Foscote Lord Walker of Gestingthorpe

Citations:

[2003] UKPC 37, Times 06-Jun-2003, [2004] 1 AC 147

Links:

PC, Bailii, PC

Jurisdiction:

England and Wales

Citing:

CitedBuhr v Barclays Bank plc CA 26-Jan-2001
The bank took a second charge over property, but failed to get it registered. The chargors fell into debt and bankruptcy, and the property was sold. The proceeds were used to discharge the first charge, and then repay unsecured creditors. The bank . .
CitedIn re Banque des Marchands de Moscou (Koupetschesky) (No 2) CA 1954
A Russian bank operated in Russia. It had no branch in England, but did have an account, in credit, with a bank in London. On December 15, 1917 the bank was nationalized by a decree of the soviet government. On December 16th 1917, two documents were . .
CitedRe Banque des Marchands de Moscou (Koupetschesky) 1952
. .
CitedIn re Russian Bank for Foreign Trade 1933
Soviet legislation involved an extinguishment of the rights and obligations of the commercial banks and the creation of equivalent obligations on the part of a new State Bank. . .
CitedIn re United Railways of the Havana v Regla Warehouses Ltd CA 1960
There had been a financing transaction by way of a lease by a Pennsylvania corporation, as trustee for foreign bondholders, to an English company carrying on business in Cuba, of assets in Cuba. By a Cuban decree the assets were transferred to the . .
CitedF and K Jabbour v Custodian of Israeli Absentee Property 1953
The court was asked as to the effect of foreign regulations on the ownership of a right of action under an insurance policy, and for that purpose examined whether the plaintiff’s claim against the insurance company was a ‘mere right to claim . .
CitedIn re Humber Ironworks and Shipbuilding Co 1869
The assets of a company held on the statutory trusts should be distributed as if they had all been collected and distributed on the date of the winding up order: ‘I think the tree must lie as it falls; that it must be ascertained what are the debts . .

Cited by:

CitedIn re Telewest Communications Plc ChD 26-Apr-2004
A scheme of arrangement had been proposed. The creditor complained that in providing for payment in a currency other than that agreed, it had been prejudiced.
Held: The provision in the scheme did purport to alter the claimant’s rights. . .
CitedLaw Society of England and Wales and others v Shah and others ChD 30-Nov-2007
Solicitor firms had been made bankrupt leaving a shortfall after thefts from client accounts of over 12 million pounds. The thief had diappeared, and the other partners were now discharged form bankruptcy. The Law Society accepted that it could not . .
CitedCambridge Gas Transport Corp v Official Committee of Unsecured Creditors (of Navigator Holdings Plc and Others) PC 16-May-2006
(Isle of Man) A scheme of arrangement was proposed for a company with involvement in several jurisdictions. An order in New York sought assistance in the vesting of shares and assets in the Isle of Man in the creditors committee. Cambridge was a . .
CitedLB Holdings Intermediate 2 Ltd, The Joint Administrators of v Lehman Brothers International (Europe), The Joint Administrators of and Others SC 17-May-2017
In the course of the insolvent administration of the bank, substantial additional sums were received. Parties appealed against some orders made on the application to court for directions as to what was to be done with the surplus.
Held: The . .
CitedGlobal Distressed Alpha Fund 1 Ltd Partnership v Pt Bakrie Investindo ComC 17-Feb-2011
Action on an instrument of guarantee.
Held: judgment for the Claimant in respect of the principal sum of US$2m. and such interest payments as were due. . .
Lists of cited by and citing cases may be incomplete.

Insolvency, Banking, Jurisdiction

Updated: 11 September 2022; Ref: scu.183086

Mutton v Peat: 1899

Byrne J said that the rule in Clayton’s Case applies ‘as between cestuis que trust in an appropriate case’, but held that in the case before him Clayton’s Case did not apply because the bankers had specifically appropriated monies in a way inconsistent with it.

Judges:

Byrne J

Citations:

[1899] 2 Ch 556

Jurisdiction:

England and Wales

Cited by:

Appeal fromMutton v Peat CA 1900
Held: The appeal succeeded. A bank’s customer has a right in general to call on the bank to combine his accounts. . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 10 September 2022; Ref: scu.510902

Mutton v Peat: CA 1900

Held: The appeal succeeded. A bank’s customer has a right in general to call on the bank to combine his accounts.

Judges:

Lindley MR

Citations:

[1900] 2 Ch 79

Jurisdiction:

England and Wales

Citing:

Appeal fromMutton v Peat 1899
Byrne J said that the rule in Clayton’s Case applies ‘as between cestuis que trust in an appropriate case’, but held that in the case before him Clayton’s Case did not apply because the bankers had specifically appropriated monies in a way . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 10 September 2022; Ref: scu.510901

Bank of India v Morris and others: CA 22 Jun 2005

Citations:

[2005] EWCA Civ 693, [2005] BPIR 1067, [2005] 2 BCLC 328, [2005] BCC 739

Links:

Bailii

Statutes:

Insolvency Act 1986 213

Jurisdiction:

England and Wales

Cited by:

Main JudgmentBank of India v Morris and others (Costs) CA 22-Jun-2005
. .
Lists of cited by and citing cases may be incomplete.

Insolvency, Banking

Updated: 09 September 2022; Ref: scu.226991

Mahonia Limited v JP Morgan Chase Bankwest Lb Ag: QBD 3 Aug 2004

The Claimant claimed on a letter of credit issued by the Defendant on behalf of Enron Ltd, who asserted it was not liable to pay there having been unlawful behaviour by Enron Ltd. Swap agreements had been entered into, and the defendant said the claimant was in effect a shell company. The bank would not have accepted them as able to support the risks if they had been told of the position, and accounts were misleading through the removal of balances by non-standard accounting practices.
Held: The accounting practices were not improper. It is necessary for any unlawfulness to be actionable at the suit of the victim against at least one of the co-conspirators. The defendant could not make good its claim of a conspiracy. The claims under the guarantees could proceed.

Judges:

Cooke The Honourable Mr Justice Cooke

Citations:

[2004] EWHC 1938 (Comm)

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

See alsoMahonia Ltd v JP Morgan Chase Bank ComC 30-Jul-2003
Enforceability of documentary credits – strike out of defence refused. . .
CitedEl Ajou v Dollar Land Holdings Ltd CA 2-Dec-1993
The court was asked whether, for the purposes of establishing a company’s liability under the knowing receipt head of constructive trust, the knowledge of one of its directors can be treated as having been the knowledge of the company.
Held: . .
CitedTesco Supermarkets Ltd v Nattrass HL 31-Mar-1971
Identification of Company’s Directing Mind
In a prosecution under the 1968 Act, the court discussed how to identify the directing mind and will of a company, and whether employees remained liable when proper instructions had been given to those in charge of a local store.
Held: ‘In the . .
CitedLonrho Ltd v Shell Petroleum Co Ltd (No 2) HL 1-Apr-1981
No General Liability in Tort for Wrongful Acts
The plaintiff had previously constructed an oil supply pipeline from Beira to Mozambique. After Rhodesia declared unilateral independence, it became a criminal offence to supply to Rhodesia without a licence. The plaintiff ceased supply as required, . .
CitedLonrho plc v Fayed HL 2-Jan-1991
In a conspiracy, the intent to injure need not be the primary intent, but there must be some intent which involves the conspiring parties directing their minds towards the victim or a category of persons which would include the victim as a target to . .
CitedKuwait Oil Tanker Company SAK and Another v Al Bader and Others CA 18-May-2000
The differences between tortious conspiracies where the underlying acts were either themselves unlawful or not, did not require that the conspiracy claim be merged in the underlying acts where those acts were tortious. A civil conspiracy to injure . .
CitedMogul Steamship Company Limited v McGregor Gow and Co QBD 10-Aug-1885
Ship owners formed themselves into an association to protect their trading interests which then caused damage to rival ship owners. The plaintiffs complained about being kept out of the conference of shipowners trading between China and London.
CitedMogul Steamship Company Limited v McGregor Gow and Co CA 2-Jul-1889
Ship-owners formed an association which in this action others claimed to be a tortious conspiracy.
Held: There is a cause of action against the conspirators where there is an agreement which constitutes an indictable conspiracy and that . .
CitedCrofter Hand Woven Harris Tweed Company Limited v Veitch HL 15-Dec-1941
The plaintiffs sought an interdict against the respondents, a dockers’ union, who sought to impose an embargo on their tweeds as they passed through the port of Stornoway.
Held: A trade embargo was not tortious because the predominant purpose . .
CitedYukong Lines Ltd v Rendsburg Investments Corporation and Others (No 2) QBD 23-Sep-1997
Repudiation by charterer: Funds were transferred by a charterer’s ‘alter ego’ to another company controlled by him with intent to defeat owner’s claim – whether ‘alter ego’ acting as undisclosed principal of charterer – whether permissible to pierce . .
CitedSurzur Overseas Ltd v Koros and others CA 25-Feb-1999
A defendant to a worldwide Mareva injunction had failed to give full disclosure of all his assets in an affidavit filed with the court. False evidence as to sale of the assets in question was later manufactured and placed before the court. The . .
ApprovedMichaels and Michaels v Taylor Woodrow Developments Ltd, etc ChD 19-Apr-2000
The respondents sought to strike out the claim for conspiracy and failure to comply with the Act. The respondent was landlord of premises occupied by the claimants. They had served a notice under the Act of their intention to sell.
Held: The . .
CitedFoster v Driscoll, Lindsay v Attfield, Lindsay v Driscoll 1929
During the American prohibition, a group in England and Scotland planned to ship 7,500 cases of whisky to North America, and hoped to make extraordinary profits. But they fell out and resorted to litigation between themselves.
Held: Sankey LJ . .
CitedRegazzoni v Sethia HL 1957
The House considered a mutual intention of both parties to perform a contract, which was not illegal on its face, but in a manner which was contrary to the law of the place where it was to be performed.
Held: Lord Reid said: ‘To my mind, the . .
CitedFisher v Bridges 1853
. .
CitedSpector v Ageda ChD 1971
. .
CitedMansouri v Singh CA 1986
The court declined to enforce a security founded on an illegal contract. . .
CitedGroup Josi v Walbrook Insurance Co. CA 1996
In the absence of fraud by the seller in presenting documents to the confirming bank seeking payment, the court will not restrain a bank from paying a letter of credit which is payable according to its terms, nor a beneficiary from seeking payment. . .
CitedBigos v Bousted 1951
The defendant sought to send his family abroad for his daughter’s health, but wanted to provide more money than would be allowed under exchange controls. He entered into an unlawful arrangement with the plaintiff an Italian national to get around . .

Cited by:

See alsoMahonia Ltd v JP Morgan Chase Bank ComC 30-Jul-2003
Enforceability of documentary credits – strike out of defence refused. . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 09 September 2022; Ref: scu.199819

GMAC Commercial Credit Development Ltd v Sandhu and Another: ComC 31 Mar 2004

Claims under separate Deeds of Guarantee and Indemnity

Judges:

Richard Siberry QC

Citations:

[2004] EWHC 716 (Comm)

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

See AlsoGMAC Commercial Credit Development Ltd v Sandhu and Another CA 10-Jul-2001
Claims under deeds of guarantee and indemnity to support debt factoring arrangements. . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 06 September 2022; Ref: scu.432823

Bank Leumi (UK) Plc v Wachner: ComC 22 Mar 2011

The bank sought to recover its lendings to the defendant. She counterclaimed alleging negligence in the sale to her by the claimant of foreign exchange options.
Held: The counterclaim failed.

Judges:

Flaux J

Citations:

[2011] EWHC 656 (Comm), [2011] 1 CLC 454

Links:

Bailii

Jurisdiction:

England and Wales

Financial Services, Banking

Updated: 04 September 2022; Ref: scu.431650

Brookes v HSBC Bank Plc: CA 29 Mar 2011

The appellant had failed in his challenge to the bank’s imposition of charges.

Citations:

[2011] EWCA Civ 354

Links:

Bailii

Statutes:

Consumer Credit Act 1974 78

Jurisdiction:

England and Wales

Citing:

Appeal fromCarey v HSBC Bank plc, Yunis v Barclays Bank plc and similar QBD 23-Dec-2009
(Manchester Mercantile Court) The court considered the effects in detail where a bank was unable to comply with a request under section 78 of the 1974 Act to provide a copy of the agreement signed by the client.
Held: The court set out to give . .
Lists of cited by and citing cases may be incomplete.

Consumer, Banking, Costs

Updated: 04 September 2022; Ref: scu.431243

Alcom Ltd v Republic of Colombia: HL 1984

A bank account used to cover the day-to-day expenses of an Embassy, clearly served sovereign purposes and therefore was immune from enforcement measures. The Act of 1978 must be read against the background of customary international law current in 1978. It is highly unlikely that Parliament intended to require United Kingdom courts to act contrary to international law unless the clear language of the statute compels such a conclusion.
Lord Diplock said: ‘The Act, as its short title indicates, deals primarily with relations between sovereign states, though its provisions are capable of extension by Order in Council to relations between the United Kingdom and the constituent territories of federal states. Accordingly its provisions fall to be construed against the background of those principles of public international law as are generally recognised by the family of nations.’ and ‘The State Immunity Act 1978, whose long title states as its first purpose to make new provision with respect to proceedings in the United Kingdom by or against other states, purports in Part I to deal comprehensively with the jurisdiction of courts of law in the United Kingdom both (1) to adjudicate upon claims against foreign states (‘adjudicative jurisdiction’); and (2) to enforce by legal process (‘enforcement jurisdiction’) judgments pronounced and orders made in the exercise of their adjudicative jurisdiction . . the Act . . draws a clear distinction between the adjudicative jurisdiction and the enforcement jurisdiction of courts of law in the United Kingdom. Sections 2 to 11 deal with adjudicative jurisdiction. Sections 12 to 14 deal with procedure and of these, sections 13(2) to (6) and 14(3) and (4) deal in particular with enforcement jurisdiction.’
In the case of a bank account, the onus is on the judgment creditor to show that the use or intended use of the account is, apart from minimal exceptions, for commercial purposes within the meaning of the Act.
‘The crucial question of construction for your Lordships is whether a debt which has these legal characteristics falls within the description contained in section 13(4) of ‘property which is for the time being in use or intended for use for commercial purposes.’ To speak of a debt as ‘being used or intended for use’ for any purposes by the creditor to whom the debt is owed involves employing ordinary English words in what is not their natural sense, even if the phrase ‘commercial purposes’ is given the ordinary meaning of jure gestionis in contrast to jure imperii that is generally attributed to it in the context of rights to sovereign immunity in public international law; though it might be permissible to apply the phrase intelligibly to the credit balance in a bank account that was earmarked by the state for exclusive use for transactions into which it entered jure gestionis. What is clear beyond all question is that if the expression ‘commercial purposes’ in section 13(4) bore what would be its ordinary and natural meaning in the context in which it there appears, a debt representing the balance standing to the credit of a diplomatic mission in a current bank account used for meeting the day-to-day expenses of running the mission would fall outside the subsection.
‘Commercial purposes,’ however, is given by section 17(1) the extended meaning which takes one back to the comprehensive definition of ‘commercial transaction’ in section 3(3). Paragraph (a) of this tripartite definition refers to any contract for the supply of goods or services, without making any exception for contracts in either of these two classes that are entered into for purposes of enabling a foreign state to do things in the exercise of its sovereign authority either in the United Kingdom or elsewhere. This is to be contrasted with the other paragraph of the definition that is relevant to the instant case, paragraph (c), which on the face of it would be comprehensive enough to include all transactions into which a state might enter, were it not that it does specifically preserve immunity from adjudicative jurisdiction for transactions or activities into which a state enters or in which it engages in the exercise of sovereign authority, other than those transactions that are specifically referred to either in paragraph (a) or in paragraph (b), with the latter of which the instant appeal is not concerned . . My Lords, the decisive question for your Lordships is whether in the context of the other provisions of the Act to which I have referred, and against the background of its subject matter, public international law, the words ‘property which is for the time being in use or intended for use for commercial purposes,’ appearing as an exception to a general immunity to the enforcement jurisdiction of United Kingdom courts accorded by section 13(2) to the property of a foreign state, are apt to describe the debt represented by the balance standing to the credit of a current account kept with a commercial banker for the purpose of meeting the expenditure incurred in the day-to-day running of the diplomatic mission of a foreign state.
Such expenditure will, no doubt, include some moneys due under contracts for the supply of goods or services to the mission, to meet which the mission will draw upon its current bank account; but the account will also be drawn upon to meet many other items of expenditure which fall outside even the extended definition of ‘commercial purposes’ for which section 17(1) and section 3(3) provide. The debt owed by the bank to the foreign sovereign state and represented by the credit balance in the current account kept by the diplomatic mission of that state as a possible subject matter of the enforcement jurisdiction of the court is, however, one and indivisible; it is not susceptible of anticipatory dissection into the various uses to which moneys drawn upon it might have been put in the future if it had not been subjected to attachment by garnishee proceedings. Unless it can be shown by the judgment creditor who is seeking to attach the credit balance by garnishee proceedings that the bank account was earmarked by the foreign state solely (save for de minimis exceptions) for being drawn upon to settle liabilities incurred in commercial transactions, as for example by issuing documentary credits in payment of the price of goods sold to the state, it cannot, in my view, be sensibly brought within the crucial words of the exception for which section 13(4) provides.’

Judges:

Lord Diplock, Lords Fraser of Tullybelton, Keith of Kinkel, Roskill and Templeman

Citations:

[1984] AC 580, [1984] 2 WLR 750, [1984] 2 Lloyds Rep 24, [1984] 2 All ER 6

Statutes:

State Immunity Act 1978

Jurisdiction:

England and Wales

Citing:

CitedCalvin’s case 1606
Sir Edward Coke said: ‘If this alien becomes an enemy (as all alien friends may) then he is utterly disabled to maintain any action, or get anything within this realm.’ and ‘If a King comes to a kingdom by conquest, he may change and alter the laws . .

Cited by:

CitedRegina v Bartle and The Commissioner Of Police For The Metropolis and Others Ex Parte Pinochet Ugarte, Regina v Evans and Another and The Commissioner of Police For The Metropolis and Others (No 1) HL 22-Nov-1998
The government of Spain had issued an arrest warrant and application for extradition in respect of Pinochet Ugarte for his alleged crimes whilst president of Chile. He was arrested in England. He pleaded that he had immunity from prosecution.
CitedAziz v Republic of Yemen CA 17-Jun-2005
The claimant had made a claim for unfair dismissal. The defendant state had filed a defence instead of claiming state immunity. It then sought to assert such immunity. The claimant said the state had waived its immunity.
Held: Section 2(7) of . .
CitedRegina v Bartle and Commissioner of Police for the Metropolis and Others, ex parte Pinochet Ugarte; Regina v Evans and Similar (No 3) HL 24-Mar-1999
An application to extradite a former head of state for an offence which was not at the time an offence under English law would fail, but could proceed in respect of allegations of acts after that time. No immunity was intended for heads of state. . .
CitedJones v Ministry of Interior for the Kingdom of Saudi Arabia and others HL 14-Jun-2006
The claimants said that they had been tortured by Saudi police when arrested on false charges. They sought damages, and appealed against an order denying jurisdiction over the defendants. They said that the allegation of torture allowed an exception . .
CitedSmith, Regina (on The Application of) v Secretary of State for Defence and Oxfordshire Assistant Deputy Coroner (Equality and Human Rights Commission intervening) SC 30-Jun-2010
The deceased soldier died of heat exhaustion whilst on active service in Iraq. It was said that he was owed a duty under human rights laws, and that any coroner’s inquest should be a fuller one to satisfy the state’s duty under Article 2.
CitedSerVaas Incorporated v Rafidian Bank and Others SC 17-Aug-2012
The appellant had contracted to construct a factory in Iraq. On the imposition of sanctions, the respondent bank’s assets were frozen. The appellant sought to recover the sums due to it, and obtained judgment in France. After the fall of Hussain, . .
CitedAIC Ltd v Federal Government of Nigeria QBD 13-Jun-2003
The court was asked: ‘i. whether a judgment against a State may be registered under section 9 of the Administration of Justice Act 1920 and enforced in this country; and
ii. whether moneys in a bank account of a central bank that is a separate . .
CitedThe United States of America v Nolan SC 21-Oct-2015
Mrs Nolan had been employed at a US airbase. When it closed, and she was made redundant, she complained that the appellant had not consulted properly on the redundancies. The US denied that it had responsibility to consult, and now appealed.
CitedBenkharbouche v Secretary of State for Foreign and Commonwealth Affairs SC 18-Oct-2017
The court was asked as to the compatibility of provisions in the 1978 Act with the human rights of the appellant. The claimants, Moroccan nationals were employed as domestic staff in embassies in London. They alleged both race discrimination and . .
Lists of cited by and citing cases may be incomplete.

International, Banking

Updated: 04 September 2022; Ref: scu.220687

Essentially Different Ltd v Bank of Scotland Plc: ComC 10 Mar 2011

The claimant sought damages from its bankers saying that having agreed a loan, it had sought to add new conditions before paying the second tranche. The defendant said that there had been misrepresentations.

Judges:

Burton J

Citations:

[2011] EWHC 475 (Comm)

Links:

Bailii

Jurisdiction:

England and Wales

Banking, Contract

Updated: 03 September 2022; Ref: scu.430499

Marley and 11 Others v Mutual Security Merchant Bank and Trust Co Ltd Co: PC 15 Oct 1990

BANKING – EQUITY, TRUSTS, PROBATE ADMINISTRATOR’S POWERS OF INVESTMENT Bank as sole administrator cannot invest estate funds in its own deposits in the absence of express sanction in the trust instrument.
Lord Oliver of Aylmerton said: ‘A trustee who is in genuine doubt about the propriety of any contemplated course of action in the exercise of his fiduciary duties and discretions is always entitled to seek proper professional advice and, if so advised, to protect his position by seeking the guidance of the court.’
He also said: ‘The question whether the trustee has demonstrated that the contract submitted for approval is in the best interests of the beneficiaries reduces, in such a case as this, to whether the trustee can satisfy the court that it has taken all the necessary steps to obtain the best price that would be taken by a reasonably diligent professional trustee. The question may equally well be expressed as whether the trustee has shown that it has fully discharged its duty. That question may appear to be very similar to the question whether to enter into the contract without taking further steps and without seeking the directions of the court would justify an action by the beneficiaries for misconduct justifying the removal of the trustee. Nevertheless there is an essential distinction in that, in such an action, the beneficiaries would be required to assume the positive burden of demonstrating a breach of fiduciary duty. A failure to do so does not demonstrate the converse, namely that the transaction proposed, because not proved to be a breach of fiduciary duty, is therefore one which is in the interest of the beneficiaries’ . . and ‘In the Court of Appeal, Rowe P regarded it as doubtful whether the respondent, having entered into the conditional contract, could even investigate an alternative offer, but regarded that offer in any event as unworthy of serious consideration because the respondent had no knowledge of the financial stability of the proposed purchaser and because, in postponing conclusion of the conditional contract whilst the matter was investigated, the respondent risked losing the ‘bird in the hand’. . .
What the Court of Appeal appears to have overlooked entirely was that, having regard to the course which it was proposed to take as regards the obviously unsatisfactory features of the conditional contract – that is to say the treatment of moneys falling due to the estate up to the closing date and in the interest-free postponement of a substantial part of the consideration – the ‘bird in the hand’ argument ceased to have any validity at all, for the effect of the order proposed and finally made was that the respondent had, in any event, to reject the conditional contract as it stood and to negotiate fresh terms with the purchaser if it proved willing to consider them.’

Judges:

Lord Oliver of Aylmerton

Citations:

[1991] 3 All ER 198, [1990] UKPC 44

Links:

Bailii

Statutes:

Trustee Act 1956 66

Jurisdiction:

England and Wales

Cited by:

CitedJohn Weth and Others v Her Majesty’s Attorney General and Others CA 23-Feb-2001
A charitable trust had been established. Protracted disputes had taken place, and the burden of the costs required to be apportioned. The financial practices of the charity had been informal leading to confusion, and dissension. An intervention by . .
Cited3 Individual Present Professional Trustees of 2 Trusts v an Infant Prospective Beneficiary of One Trust and others ChD 25-Jul-2007
The parties challenged under the 198 Act the right of trustees to seek a Beddoe order protecting themselves against an award of costs. . .
See AlsoMarley and Others v Mutual Security Merchant Bank and Trust Co Ltd Co PC 2-Feb-1995
(Jamaica) . .
Lists of cited by and citing cases may be incomplete.

Banking, Wills and Probate

Updated: 02 September 2022; Ref: scu.429845

Lloyds TSB Bank Plc v Norman Hayward: ChD 23 Jul 2004

The bank claimed repayment under personal guarantees given by the respondent of the debts of a football club. The defendant said his guarantee had been discharged under the rule in Holme v Brunskill.

Judges:

The Hon Mr Justice Evans-Lombe

Citations:

[2004] EWHC 1798 (Ch)

Links:

Bailii

Jurisdiction:

England and Wales

Citing:

CitedHolme v Brunskill CA 1877
The plaintiff had let his farm in Cumberland to a tenant farmer, along with a flock of sheep. When let, the farm extended to 234 acres and there were 700 sheep. The surety guaranteed the tenant’s obligation to re-deliver the flock of sheep in good . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 02 September 2022; Ref: scu.199483

Emerald Meats (London) Ltd v AIB Group (UK) Plc: CA 12 Apr 2002

The claimant appealed a finding that it had not been overcharged interest by the respondent. The account was overdrawn. They claimed that on each occasion when a cheque was paid into the account, the bank had charged a day’s extra interest before crediting it. The bank would receive value for the cheque on one day, but adjust the balance for interest purposes only on the day after. The facility letter did not set out a right to do this.
Held: The customer had impliedly agreed to the bank’s standard terms including as to the date on which credits would affect the balance. Those terms were negotiable and applied unless they were unreasonable or ‘extortionate or contrary to all approved banking practice’.

Judges:

Lord Justice Pill

Citations:

[2002] EWCA Civ 460

Links:

Bailii

Jurisdiction:

England and Wales

Cited by:

CitedOffice of Fair Trading v Abbey National Plc and seven Others ComC 24-Apr-2008
The Office sought a declaration that the respondent and other banks were subject to the provisions of the Regulations in their imposition of bank charges to customer accounts, and in particular as to the imposition of penalties or charges for the . .
Lists of cited by and citing cases may be incomplete.

Banking

Updated: 02 September 2022; Ref: scu.170148

Clydesdale Bank Plc v Workman and Others: ChD 12 Dec 2013

Claim by the Defendants against the Third Party for equitable compensation or damages for alleged knowing assistance in a breach of trust. The breach of trust was the paying away of monies representing the proceeds of sale of a property that had been charged by its registered owner to the Claimant in these proceedings,

Citations:

[2013] EWHC B38 (Ch)

Links:

Bailii

Jurisdiction:

England and Wales

Equity, Banking

Updated: 01 September 2022; Ref: scu.522670

Evropaiki Dynamiki v ECB (Law Relating To Undertakings): ECJ 27 Jan 2011

ECJ (Opinion) Appeal – Public service contracts – European Central Bank – Groupings – Standing of individual members of a consortium to bring proceedings – Review by the Court of the application of national law by European Union bodies.

Citations:

C-401/09, [2011] EUECJ C-401/09

Links:

Bailii

Jurisdiction:

European

Banking

Updated: 01 September 2022; Ref: scu.428409