By Richard Crump (June 16, 2022, 00:14 BST) – An English judge has refused to extend the duty bankers owe their customers to protect them from fraud in Nigeria’s $1.7 billion case against JPMorgan, bucking a recent court trend toward applying a broader reading of the requirement.
High Court Judge Sara Cockerill on Tuesday dismissed allegations that JPMorgan breached its duty of care by sanctioning $875 million in payments to a company controlled by a former Nigerian oil minister accused of bribery on instructions received of government officials.
The ruling makes it clear that the “corruption puff” is not enough to trigger the so-called Quincecare duty owed by…
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