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Liability Banking Sector Fraudulent Transfers

King & Spalding

Sixth Circuit Holds that Bank Settlement Payment to Resolve Fraudulent Transfer Liability Is Insurable Loss Under Ohio Law and...

King & Spalding on

On February 1, 2024, the U.S. Court of Appeals for the Sixth Circuit, in an unpublished opinion, held that a bank’s professional liability insurance includes coverage for a $32 million settlement payment the bank made to...more

White & Case LLP

High Court: Recipient bank not unjustly enriched by fraudulent payment

White & Case LLP on

In Tecnimont Arabia Limited v National Westminster Bank plc, the High Court considered the extent of a bank's liability to victims of fraud who were not direct customers. The High Court found that the bank had not been...more

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