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16 September 2020
Issue: 7902 / Categories: Case law , Law digest , In Court
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Law digests: 18 September 2020

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Bank

Stanford International Bank Ltd (in liquidation) v HSBC Bank plc [2020] EWHC 2232 (Ch), [2020] All ER (D) 169 (Jul)

HSBC Bank plc had applied to strike out, or obtain reverse summary judgment under CPR Pt 24 on, two discrete aspects of a claim brought against it by the joint liquidators of Stanford International Bank plc (SIB). The claim alleged: (i) that HSBC had failed in breach of its duty under Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 to take sufficient care to see that the monies that were being paid out from accounts under its control were being properly paid out (the Quincecare allegation); and (ii) dishonest assistance in relation to breaches of fiduciary duty by SIB’s ultimate beneficial owner. The Chancery Division held that the allegation of dishonest assistance would be struck out: absent an allegation of targeted suspicion and of a deliberate decision not to look, the copious allegations made against HSBC did not amount, singularly or cumulatively, to allegations that could properly be characterised

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