Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

MIDLAND BANK PLC v. BROWN SHIPLEY & CO. LTD. CITIBANK N.A. v. SAME

[1991] 1 Lloyd's Rep. 576

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Waller

Banking - Conversion - Fraudsters induced plaintiffs to issue bankers’ drafts in favour of defendants - Defendants collected payment and paid out substantial sums to fraudsters - Whether title in drafts transmitted to defendants - Whether act of presenting them for payment a conversion - Whether plaintiffs could recover value of drafts as damages for conversion.

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