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Law Soc advises on client money held in insolvent banks

Law Soc advises on client money held in insolvent banks The advice not to limit the scope of undertakings is hugely problematic from a conduct perspective but fairly easily defended in terms of civil liability in the event of a collapse of a bank providing purchase funds, for example. If conveyancers were to follow the advice it could lead to the conveyancing system freezing up rather like the banking system. What next!

10-Oct-2008

4:37 pm