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    UKSC rules on the Banker's Quincecare duty: no duty to second-guess customer
    2023-07-13

    In recent years much ink has been spilled opining on the so called 'Quincecare' duty of care, and the limits of it (see links to our recent insolvency law updates covering the topic below). The judgment in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 was a first instance decision on Steyn J, in which he found that a bank has a duty not to execute a payment instruction given by an agent of its customer without making inquiries if the bank has reasonable grounds for believing that the agent is attempting to defraud the customer.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, Buddle Findlay, Financial Conduct Authority (UK), Barclays, National Crime Agency (UK), UK Supreme Court
    Authors:
    Bridie McKinnon , Scott Barker , Luke Sizer
    Location:
    United Kingdom
    Firm:
    Buddle Findlay
    Fraud fundamentals: civil fraud trends and predictions
    2022-12-22

    In times of economic uncertainty, fraud typically increases. And these are certainly economically uncertain times. Fraud has been on the rise over recent years and that trend is set to continue. The motivation and opportunity to commit fraud increases as financial pressures loom over individuals and businesses. We are also set to see a continued increase in insolvencies as the impact of the pandemic and other global events set in. The appointment of insolvency practitioners means frauds which might have otherwise continued or remained concealed are more likely to be uncovered.

    Filed under:
    United Kingdom, Company & Commercial, Environment & Climate Change, Insolvency & Restructuring, Litigation, Public, White Collar Crime, Taylor Wessing, Supply chain, ESG, Anti-bribery and corruption, Financial Conduct Authority (UK), National Crime Agency (UK)
    Authors:
    Lorna Bramich , Emma Allen
    Location:
    United Kingdom
    Firm:
    Taylor Wessing
    Bounce Back Loan Scheme fraud and Director Disqualifications
    2022-03-18

    Over recent months we have seen numerous references in the press to investigations into Bounce Back Loan Scheme (BBLS) fraud. A year ago the National Audit Office estimated that around 11% of the loans granted (some £4.9bn) were procured fraudulently. More recent official estimates suggest the figure is between £3.3bn and £5bn.

    Needless to say attempting to recover these funds is a enormous task. The National Crime Agency is investigating some of the biggest cases, but equally banks and HMRC are actively seeking to identify fraud and recover the loans.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, White Collar Crime, Stevens & Bolton LLP, Coronavirus, HM Revenue and Customs (UK), National Crime Agency (UK)
    Authors:
    Katie Philipson
    Location:
    United Kingdom
    Firm:
    Stevens & Bolton LLP
    UKSC rules on the Banker's Quincecare duty: no duty to second-guess customer
    2023-07-13

    In recent years much ink has been spilled opining on the so called 'Quincecare' duty of care, and the limits of it (see links to our recent insolvency law updates covering the topic below). The judgment in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 was a first instance decision on Steyn J, in which he found that a bank has a duty not to execute a payment instruction given by an agent of its customer without making inquiries if the bank has reasonable grounds for believing that the agent is attempting to defraud the customer.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, Buddle Findlay, Financial Conduct Authority (UK), Barclays, National Crime Agency (UK), UK Supreme Court
    Authors:
    Bridie McKinnon , Scott Barker , Luke Sizer
    Location:
    United Kingdom
    Firm:
    Buddle Findlay
    UKSC rules on the Banker's Quincecare duty: no duty to second-guess customer
    2023-07-13

    In recent years much ink has been spilled opining on the so called 'Quincecare' duty of care, and the limits of it (see links to our recent insolvency law updates covering the topic below). The judgment in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 was a first instance decision on Steyn J, in which he found that a bank has a duty not to execute a payment instruction given by an agent of its customer without making inquiries if the bank has reasonable grounds for believing that the agent is attempting to defraud the customer.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, Buddle Findlay, Financial Conduct Authority (UK), Barclays, National Crime Agency (UK), UK Supreme Court
    Authors:
    Bridie McKinnon , Scott Barker , Luke Sizer
    Location:
    United Kingdom
    Firm:
    Buddle Findlay
    UKSC rules on the Banker's Quincecare duty: no duty to second-guess customer
    2023-07-13

    In recent years much ink has been spilled opining on the so called 'Quincecare' duty of care, and the limits of it (see links to our recent insolvency law updates covering the topic below). The judgment in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 was a first instance decision on Steyn J, in which he found that a bank has a duty not to execute a payment instruction given by an agent of its customer without making inquiries if the bank has reasonable grounds for believing that the agent is attempting to defraud the customer.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, Buddle Findlay, Financial Conduct Authority (UK), Barclays, National Crime Agency (UK), UK Supreme Court
    Authors:
    Bridie McKinnon , Scott Barker , Luke Sizer
    Location:
    United Kingdom
    Firm:
    Buddle Findlay
    UKSC rules on the Banker's Quincecare duty: no duty to second-guess customer
    2023-07-13

    In recent years much ink has been spilled opining on the so called 'Quincecare' duty of care, and the limits of it (see links to our recent insolvency law updates covering the topic below). The judgment in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 was a first instance decision on Steyn J, in which he found that a bank has a duty not to execute a payment instruction given by an agent of its customer without making inquiries if the bank has reasonable grounds for believing that the agent is attempting to defraud the customer.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, Buddle Findlay, Financial Conduct Authority (UK), Barclays, National Crime Agency (UK), UK Supreme Court
    Authors:
    Bridie McKinnon , Scott Barker , Luke Sizer
    Location:
    United Kingdom
    Firm:
    Buddle Findlay
    UKSC rules on the Banker's Quincecare duty: no duty to second-guess customer
    2023-07-13

    In recent years much ink has been spilled opining on the so called 'Quincecare' duty of care, and the limits of it (see links to our recent insolvency law updates covering the topic below). The judgment in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 was a first instance decision on Steyn J, in which he found that a bank has a duty not to execute a payment instruction given by an agent of its customer without making inquiries if the bank has reasonable grounds for believing that the agent is attempting to defraud the customer.

    Filed under:
    United Kingdom, Banking, Insolvency & Restructuring, Litigation, Buddle Findlay, Financial Conduct Authority (UK), Barclays, National Crime Agency (UK), UK Supreme Court
    Authors:
    Bridie McKinnon , Scott Barker , Luke Sizer
    Location:
    United Kingdom
    Firm:
    Buddle Findlay
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