Wragge Lawrence Graham & Co

UK 200 2014 position: 28

Finance litigation briefing: October 2013 — report and review on the latest issues

Wragge & Co brings you the latest on the cases and issues affecting the lending industry.

So long as the paying bank under the Clearing House Automated Payment System (CHAPS) pays in accordance with the client’s instructions as to account number and sort code, the bank will not be liable to repay sums transferred into an incorrectly named account.

In Tidal Energy Ltd v Bank of Scotland plc, the claimant completed a transfer form instructing the bank to make a transfer via CHAPS to its named supplier. The form had a standard disclaimer notice on it, disclaiming liability for losses not due to the bank’s negligence or fault. The claimant gave its supplier’s name, account number and sort code on the form. Unbeknown to the claimant, it had been fraudulently given an account number that did not belong to its supplier…

If you are registered and logged in to the site, click on the link below to read the rest of the Wragge & Co briefing. If not, please register or sign in with your details below.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Wragge Lawrence Graham & Co

View more briefings from Wragge Lawrence Graham & Co

Analysis from The Lawyer

  • Paul Wilson

    Regional: attempted merger

    Alliances, failed and successful, are the story of the year outside London

  • Belinda Bradberry

    Interior designs

    Polish up your retention policy - private practice lawyers are increasingly eyeing in-house roles

View more analysis from The Lawyer

Overview

2 Snowhill
Birmingham
B4 6WR
UK
http://www.wragge-law.com/

Turnover (£m): 121.16
No. of lawyers: 440