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STANDARD CHARTERED BANK
V.
VICTORIA ISLAND PROPERTIES AND ANOTHER

(2004) JELR 63501 (CA)

Court of Appeal 12 Nov 2004 Ghana
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- The Court of Appeal upheld the finding of negligence against Standard Chartered Bank (Gh) Ltd, holding that under s. 81 of the Bills of Exchange Act, 1961 (Act 55), a statutory duty of care is imposed on banks to true owners of funds, irr

Case Details

Judges:TWUMASI JA, OWUSU-ANSAH JA, ANIM JA
Counsel:ATTA AKYEA (WITH HIM JOSEPH AKYEAMPONG) FOR THE FIRST DEFENDANT-APPELLANT; ACE ANKOMAH (WITH HIM BRENDA AIKINS) FOR THE FIRST PLAINTIFF- RESPONDENT.
Other Citations:[2003-2005] 1 GLR 550

JUDGEMENT

TWUMASI JA.

This is an appeal from the judgment of the High Court, Accra dated 24 May 2002. It dramatises the horrors of some of the sophisticated banking frauds often heard of in these days. They are mostly technically designed criminal offences capable of detection only through the same lenses of high technology typical of our current computer age. The emphasis here is that modern criminals have left the streets and are using high technology to infiltrate our banking and other financial institutions for their fraudulent operations. It is within this background that the facts of this case must be scrutinised and analysed. The facts were as follows: Victoria Island Properties Ltd was a limited liability company incorporated in Nigeria, Hiku House 28/30 Macarthy Street, Lagos. It is the plaintiff herein. The next limited liability company is called ANZ Grindlays Bank Ltd, 7 Quai du Mont Blanc, Geneva and it is a reputable bank incorporated in and carrying on international bank…

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