Landmark Cases

Shah v HSBC- [2012] EWHC 1283

One of the most significant worldwide banking cases of the 2010s, where our client claimed damages of US$300 million arising out of his private bank’s refusal to carry out his instructions, on the basis of an alleged suspicion of money laundering. In granting our client’s appeal, the English Court of Appeal rejected HSBC’s argument that it did not need to prove that its employees did genuinely suspect money laundering – bank’s do not have ‘carte blanche’ to refuse their client’s instructions. Summary judgment for the bank was therefore refused and the matter went to a full trial.

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