The Court held that banks do not owe this duty to customers deceived into instructing their banks to transfer money to fraudsters.
On 12 July 2023, the UK Supreme Court handed down its highly anticipated judgment in...more
Changing market dynamics have led buyers to assess available options to address post-closing target company issues.
Amid the buoyant market of 2021 and early 2022, compressed deal timelines and frenzied competition...more
5/12/2023
/ Acquisitions ,
Commercial Insurance Policies ,
Contract Disputes ,
Contract Terms ,
Due Diligence ,
Financial Statements ,
Fraud ,
Indemnity Insurance ,
Insurance Claims ,
Mergers ,
Post-Closing Rights ,
Risk Assessment ,
Target Company ,
Warranty Insurance
In a leading case, the Court examined the extent of the duty of care that a bank owes to its customers when executing their orders.
On 30 October 2019, the UK Supreme Court dismissed Daiwa’s appeal in the case of...more
11/4/2019
/ Appeals ,
Banking Sector ,
Breach of Duty ,
Dismissals ,
Duty of Care ,
Fiduciary Duty ,
Financial Crimes ,
Fraud ,
Public Policy ,
UK ,
UK Supreme Court
The new code aims to avoid customers being penalised for fraudsters’ actions.
Estimates indicate that fraudsters stole £1.2 billion from UK bank accounts in 2018 — a 16% increase on the previous year....more