The point at issue is whether an instruction to make a payment through the Clearing House Automated Payment System (‘CHAPS’) is satisfied by funds being sent to, and accepted by, the bank which maintains the account with the number and sort code identified in the instruction as the destination of the payment, albeit that the holder of that account is not the beneficiary named in the instruction.
Judges:
His Honour Judge Havelock-Allan QC
Citations:
[2013] EWHC 2780 (QB), [2013] 2 CLC 407, [2013] Bus LR 1379, [2013] 2 Lloyd’s Rep 605
Links:
Jurisdiction:
England and Wales
Banking
Updated: 31 May 2022; Ref: scu.515378