Banking - 1995

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This page lists 14 cases, and was prepared on 27 October 2012.

Massey -v- Midland Bank Plc [1995] 1 All ER 929
1995 CA Steyn LJ	Undue Influence, Banking	Casemap 1 Citers
	Where a woman executes a mortgage charging her property in favour of the bank to secure her partner's debts, the bank is fixed with notice of the possibility of undue influence. It was not necessary that the couple should be married or cohabit.

Bank of Baroda -v- Rayarel and Others [1995] 2 FLR 376
19 Jan 1995 CA	Banking	Casemap 1 Citers
	A bank may assume that a solicitor advising a customer's wife had acted properly. The solicitors acted for both the husband and the wife before they also gave their instructions to the solicitors.

Levett and Others -v- Barclays Bank Plc [1995] 1 WLR 1260
27 Jan 1995 QBD	Insolvency, Banking	Casemap 1 Citers
	A creditor must reveal the disadvantageous nature of a loan to a proposed surety.

Kaufman and Others -v- Credit Lyonnais Bank
1 Feb 1995 ChD	Banking
	Confidential bank reports to an authority do not have PI immunity.

Midland Bank Plc -v- Serter and Another [1995] 1 FLR 1034
8 Mar 1995 CA	Banking	Casemap 1 Citers
	Bank rightly satisfied after wife independently advised by solicitor - not agent.

Bank of Credit and Commerce International -v- Malik and Others
13 Mar 1995 ChD	Banking	Casemap 1 Cites 1 Citers
	A bank was free to set its own base rate as it wished despite its liquidation.

State Bank of India -v- Kaur
18 Apr 1995 CA	Banking
	An undated guarantee signed by a woman without any English language skills was not a sufficient memorandum.
	Statute of Frauds 1677 4

Midland Bank Plc -v- Kidwai and Another [1995] 4 Bank LR 303
5 Jun 1995 CA	Banking	Casemap 1 Citers
	A bank was not under a full duty to advise a wife of a business client of the risks of signing a charge. The bank was not giving independent advice.

Halifax Mortgage Services Ltd (Formerly BNP Mortgages Ltd) -v- Stepsky and Another [1996] Ch 1
27 Jun 1995 ChD Edward Nugee QC	Land, Legal Professions, Banking	Casemap 1 Citers
	The knowledge of a solicitor, acting for both the borrower and the lender, of the lay clients intentions as regards the future use of the loan, is not to be imputed to the lender, even though the solicitor acts for both parties, and is the lender's agent.

Verity and Another -v- Lloyds Bank Plc
19 Sep 1995 QBD	Banking, Professional Negligence
	A bank advising a client on the prudence of a proposed transaction has a duty of care to the client in that advice.

Barclays Bank Plc -v- Hendricks and Another [1996] 1 FLR 258
3 Nov 1995 ChD Laddie J	Banking, Land	Casemap 1 Cites 1 Citers
	The wife was co-owner of the family home. Her husband owed money to the bank. He separated from his wife and left the matrimonial home moving to another house owned by the wife. The bank obtained a charging order absolute against the husband’s interest in the matrimonial home and then sought an order under section 30 of the Law of Property Act, 1925 for the sale of the house. The Deputy Master made that order and the wife appealed asking the court to exercise its discretion to defer the sale of the house until all of the children of the family had reached the age of 18 or completed full time education. Held: The court applied Abbey National -v- Moss and dismissed the appeal and confirmed the order made under s.30. The chargee was in the same position and subject to the same reasoning as Mrs Moss. She was unable, save in exceptional circumstances, to prevent the sale of a house by a chargee.
	Law of Property Act 1925 30

Cauxell Ltd -v- Lloyds Bank Ltd Unreported, 07 November 1995
7 Nov 1995 ComC Cresswell J	Banking
	ComC Banking - first demand guarantee - no implied term.

Glencore International Ag and Another -v- Bank of China
27 Nov 1995 CA	Banking
	Computer printout can be accepted in normal trade as original document if marked.
	Uniform Customs and Practice code for Documentary credits

Halifax Mortgage Services Ltd (Formerly BNP Mortgages Ltd) -v- Stepsky and Another [1996] Ch 207
1 Dec 1995 CA Morritt LJ	Agency, Legal Professions, Banking	Casemap 1 Cites 1 Citers
	The knowledge of a solicitor, acting for both the borrower and the lender, of the lay clients intentions as regards the future use of the loan, is not to be imputed to the lender, even though the solicitor acts for both parties, and is the lender's agent. Morritt LJ discussed section 199: "Counsel for the wife submitted that it did not apply as the knowledge came to the knowledge of the solicitors for the lender as such when they were instructed to act on behalf of the lender on 19 June 1990. In the case of the wife it was submitted that the solicitors were not instructed by her as "agents to know." I do not accept either of these submissions. In my view the section has to be applied in accordance with its terms to the facts of this case. There is no doubt that the information as to the true purpose of the remortgage loan imparted by the husband came to the knowledge of the solicitors on 12 June 1990 as the solicitors for the husband and wife alone for they were not instructed to act for the lenders until 19 June at the earliest. That knowledge once acquired remained with the solicitors and cannot be treated as coming to them again when they were instructed on behalf of the lenders. As counsel for the wife accepted, their knowledge cannot be treated as divided or disposed of and reacquired in that way. The conclusion seems to me to be inescapable, namely that knowledge of the relevant matters facts or things did not come to the solicitors as the solicitors for the lenders. Accordingly it did not come to them "as such." It was not disputed that the lender is a purchaser within the definition contained in section 205(1)(xxi) of the Law of Property Act 1925. Consequently section 199(1)(ii)...b) precludes the solicitors' knowledge of the relevant matters or facts being imputed to the lender."
	Law of Property Act 1925 199