Case update – Stanford International Bank Ltd (In Liquidation) v HSBC Bank Plc
9 April 2021
The Quincecare Duty obliges bankers to refrain from executing payments from a company’s account, for so long as they are put on inquiry that the payment instruction is part of a fraud against the company.
Seladore Legal has recently analysed this in relation to the insolvent Stanford International Bank’s claim against HSBC, which has provided some clarity on the approach to loss in claims by liquidators.