Banking Litigation – Summer 2019Print newsletter
Duty of care to protect customers? Legal and practical considerations for lenders
Most major lenders will be well versed in the vital work that is needed to protect their employees and premises. However, the recent shocking case in which three sisters were brutally attacked at the former Cumberland Hotel gives rise to additional concerns for lenders, and indeed for any business inviting customers or guests into its premises, because it considers the extent to which such businesses owe a duty of care to protect their customers. Louise Power considers the legal and practical implications for lenders.
Borrower had 100% legal ownership, but 0% beneficial interest
When a relationship breaks down (whether it be a relationship between, say, friends, business partners, spouses or cohabitees), the question often arises whether a party whose name is not on the deeds to a property nevertheless owns a share. The issue has arisen in a recent case, which represents a cautionary tale for anyone considering acquiring or dealing with property on an informal basis. Sandip Singh offers legal and practical advice.
Credit checks and lenders’ duties to consumers
A recent case, Adelekun v Yorkshire Building Society, is an example of an individual’s attempt to rely on data protection laws and/or a tortious duty of care to found a damages claim arising from a credit register entry.
Push payment fraud and freezing injunction update
Rachel Elgar explains why injunctions against ‘persons unknown’ can be a tactically and financially worthwhile option.
What should banks do if they suspect that customers’ accounts contain proceeds of crime?
Money laundering and fraud are key risks facing the industry today. Andrew Beck highlights a recent Commercial Court case which has practical implications for institutions which suspect that customers’ accounts may contain the proceeds of crime.