High Court finds limited obligations owed by bank to customer
27 Aug 2018
In the recent decision of AL Shams Global Ltd v BNP Paribas  SGHC 143, the High Court held that a bank did not breach any duties in contract, tort or as a fiduciary in refusing to accept an incoming payment into the plaintiff’s customer account as the documentary evidence in support of the payment was insufficient to satisfy the bank’s internal policies.
This decision clarifies the nature of the bank-customer relationship and reiterates the limited duties owed by banks to its customers.
Please click here to read the update.