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Comment: UK banks may see claim against Lloyds clarify controversial ‘Quincecare duty’

By Phoebe Seers and Martin Coyle ( August 27, 2024, 09:30 GMT | Comment) -- A 265 million-pound claim against Lloyds Banking Group by the liquidators of Arena Television looks set to force the UK courts to revisit the controversial concept of the "Quincecare duty" on banks to refuse payment instructions that they believe may involve fraud. Cases are uncommon, but a recent uptick has seen NatWest, Barclays and JP Morgan all targeted. Arena TV’s liquidators have a hard task, though, as in each of those three cases the banks defeated the claim in court.A hefty claim against Lloyds Banking Group by the liquidators of Arena Television looks set to force the UK courts to revisit the controversial concept of a duty on banks to refuse payment instructions that they believe may involve fraud....

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