The Quincecare duty explained
Discussing the duty of banks and payment providers, where it applies and how claims can arise.
Discussing the duty of banks and payment providers, where it applies and how claims can arise.
A Quincecare claim typically arises where a customer holds a bank account, the bank receives a payment instruction and when the money is paid it transpires a fraud has taken place and the customer’s money is lost. In order to bring a Quincecare claim the claimant needs to establish that there was evidence available to the bank which would give a reasonable and honest banker reasonable grounds (but not necessarily proof) that the payment instruction may be an attempt to misappropriate the customer’s funds.
In the latest episode of the Stewarts Commercial Litigation Podcast, legal directors and podcast hosts Karen Hutchinson and Francesca Berry welcome Head of Insolvency and Asset Recovery Alex Jay to discuss the Quincecare duty.
This podcast is hosted by ZenCast.fm
Karen specialises in commercial dispute resolution. She has a broad range of experience, with particular expertise in financial services disputes, civil fraud and professional negligence claims.
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Francesca specialises in complex commercial and trust and probate disputes.
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Alex is a global asset recovery specialist who leads the contentious insolvency and asset recovery team, focusing on disputes arising from fraudulent conduct and distressed or insolvent situations, often involving allegations of breach of duty, misuse of powers and dishonesty.
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