Court of Appeal confirms that the Quincecare duty does not extend to protect creditors

The Court of Appeal has struck out Quincecare duty and dishonest assistance claims brought by the liquidators of a company running a Ponzi scheme against a correspondent bank that operated various accounts for the company. In doing so, the Court of Appeal confirmed that the scope of the Quincecare duty is limited to protecting customers of the financial institution, … Read more

High Court confirms Quincecare duty does not extend to individuals

The High Court has granted reverse summary judgment in favour of a defendant bank on the basis that the so-called Quincecare duty of care did not operate in the context of an authorised push payment (APP) fraud, where a third party fraudster tricked the bank’s customer willingly to instruct the bank to transfer large sums out of … Read more

Court of Appeal confirms test for dishonesty in dishonest assistance claims

The Court of Appeal has held that an accountant member of a multi-disciplinary firm of solicitors was liable as an accessory for dishonestly assisting breaches of trust, overturning the High Court’s decision to the contrary: Group Seven Limited & Ors v Notable Services LLP & Ors [2019] EWCA Civ 614. The appeal turned on the question of whether … Read more