Bank
Stanford International Bank Ltd (in liquidation) v HSBC Bank plc [2020] EWHC 2232 (Ch), [2020] All ER (D) 169 (Jul)
HSBC Bank plc had applied to strike out, or obtain reverse summary judgment under CPR Pt 24 on, two discrete aspects of a claim brought against it by the joint liquidators of Stanford International Bank plc (SIB). The claim alleged: (i) that HSBC had failed in breach of its duty under Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363 to take sufficient care to see that the monies that were being paid out from accounts under its control were being properly paid out (the Quincecare allegation); and (ii) dishonest assistance in relation to breaches of fiduciary duty by SIB’s ultimate beneficial owner. The Chancery Division held that the allegation of dishonest assistance would be struck out: absent an allegation of targeted suspicion and of a deliberate decision not to look, the copious allegations made against HSBC did not amount, singularly or cumulatively, to allegations that could properly be characterised as allegations of dishonesty. However, the Quincecare allegation would
