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A litigator's quiz: Second candle of Advent

09 December 2019

This week's quiz continues!

2. In which case was a bank held liable for transfers it had made on the instructions of its customer where those transfers were part of a fraud?

(a) Federal Republic of Nigeria v JP Morgan Chase NA [2019] EWCA Civ 1641

Incorrect.  The Court of Appeal dismissed JP Morgan's attempt to strike out the Federal Republic of Nigeria's claim, but no findings of liability were made.  The correct answer is c.

(b) Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363

Incorrect. This case established that banks had a duty not to effect transfers when on notice that the transfer may be an attempt to misappropriate the customer's funds, but the bank in this case was held not to have had sufficient notice to be held liable. The correct answer is c.

(c) Singularis Holdings Ltd (In Liquidation) v Daiwa Capital Markets Europe Ltd [2019] UKSC 50

Correct!

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