Lloyds TSB Bank Plc v Markandin & Uddin (a firm)
Lloyds TSB Bank Plc v Markandin & Uddin (a firm)
- 2012
[2012] EWCA Civ 65, 9 February 2012. Confirms that defrauded lenders may be able to recover all their losses from their solicitors. Claimant T agreed to loan a Mr Davies £742 500 to be secured on a property. Defendant solicitors M acting for T did not realise that the loan was part of an elaborate fraud and paid the loan to the fraudsters. "Held": appeal upheld. M had been careless and T was entitled to full repayment of the loan.
TRUSTEE ACT 1925 S61
LLOYDS TSB BANK V MARKANDAN & UDDIN
[2012] EWCA Civ 65, 9 February 2012. Confirms that defrauded lenders may be able to recover all their losses from their solicitors. Claimant T agreed to loan a Mr Davies £742 500 to be secured on a property. Defendant solicitors M acting for T did not realise that the loan was part of an elaborate fraud and paid the loan to the fraudsters. "Held": appeal upheld. M had been careless and T was entitled to full repayment of the loan.
TRUSTEE ACT 1925 S61
LLOYDS TSB BANK V MARKANDAN & UDDIN