4 Oct 2006
ORIENTAL PEARL SOUTH AFRICA PROJECT CC. v. BANK OF TAIWAN
- Citation
- ORIENTAL PEARL SOUTH AFRICA PROJECT CC. v. BANK OF TAIWAN
- Court
- District Court
- Case number
- DCCJ6509/2002
Judge found the June 2002 outward remittance applications and related covering letters were forged; the Bank was negligent in failing to follow its prior course of dealing of telephone-confirming fax instructions and in failing to detect obvious unusual features (identical signature position within company seal) which a reasonable bank would have queried; clauses 2 and 3 of the Mandate did not satisfy the reasonableness test in the specific circumstances (language barrier, asymmetric bargaining position, established practice of telephone confirmation) and therefore did not protect the Bank fr…