Ian Bergson has published an article in the Journal of International Banking and Financial Law considering the Quincecare duty and when it becomes engaged.
Following the landmark Supreme Court decision in Philipp v Barclays Bank UK plc [2024] AC 346, the duty on a bank to refrain from making a payment when it has reasonable grounds for believing that a payment instruction given by an agent is an attempt to defraud the customer is to be analysed by reference to agency principles. The article concludes that the Quincecare duty is triggered by the bank being “on inquiry” of particular circumstances requiring investigation and it does not give rise to a generally applicable duty to investigate regardless of what the bank knows.
Ian acted (led by Patrick Goodall KC and David Murray) for the successful bank in Philipp.
A copy of the article can be found at JIBFL’s website here or is reproduced here, with the kind permission of JIBFL.
