31 Dec 2018
Service was valid and, on the unchallenged pleaded facts, the funds transferred were the plaintiff's property and were received by the defendant in circumstances giving rise to unjust enrichment/constructive trust; therefore the court would grant declaratory relief and order the funds released and returned, with costs.
7 Mar 2016
Summary judgment refused and unconditional leave to defend granted because HSBC demonstrated a real and bona fide defence: designation of the 1st plaintiff on the OFAC SDN List and ongoing FCRMA provided a rational basis to freeze accounts pending investigation; whether HSBC abused its contractual power or froze accounts for an unreasonable/irrational period is a triable issue for trial, not for summary disposal.
25 May 2001
The court held that the bank was entitled by express contractual terms and by reason of the 3rd Defendant's continuing defaults to freeze accounts, withdraw facilities, demand repayment and enforce the mortgage security under Clause 10; alleged oral assurances and an implied term to give notice were inconsistent with the written terms and therefore failed.