Venue: 2 Temple Gardens
Time: 6 - 7pm
Expertise: Banking & Finance
On the 4th February 2010 the Court of Appeal handed down judgment in the case of Shah v HSBC allowing in part Mr Shah’s appeal against an order of Hamblen J summarily dismissing his claim. Mr Shah was seeking to claim massive losses arising from a bank’s failure to comply with payment instructions and a failure to provide him with information as to why the bank had not honoured its mandate. The bank responded with a blanket refusal to provide the information, relying on the Proceeds of Crime Act 2002 to justify their actions. Mr Shah sued for his losses. The bank applied for summary judgment and on 26th January 2009 Hamblen J struck out the claim for damages on the grounds that the bank’s claim to have been suspicious meant that there was no reasonable prospect of the claim succeeding.
The Court of Appeal’s judgment is of great significance to all banking practitioners:
Paul Downes will explain fully the case and its impact on the very many similar claims presently being intimated against banks in this field. Paul Downeswas junior counsel for Mr Shah at first instance and in the Court of Appeal.
This seminar will qualify for 1 CPD point and is free to attend.
PAUL DOWNES QC
If you are interested in attending this seminar please complete and submit this form.
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