Singapore High Court expounds on banking contract clauses that could preclude reliance

Suresh Nair at Allen & Gledhill

Orient Centre Investments Ltd & Anor v Societe Generale & Anor [2006] SGHC 164

In this recently released judgment, the Singapore High Court held that banking contract clauses which clearly exclude liability by the bank could serve to thwart claims of reasonable reliance on the representations and assurances that may have been received from the bank’s employees or officers.