When a court of appeal upheld in favour of the liquidators of BCCI, it showed the extent to which corporate liability can be held for employees' dishonesty. Hugh Lyons and Michael Roberts explain
September 14, 2005 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
The Court of Appeal recently upheld an $82m (£44.5m) judgment in favour of the liquidators of BCCI arising from a fraudulent trading action against Bank of India.
The Court recognised that Bank of India’s chief manager had been dishonest and confirmed that, even though not a director, his dishonesty was sufficient to render the bank liable for fraudulent trading.
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