Butime v Standard Chartered Bank
Butime v Standard Chartered Bank (Civil Suit No. 963 of 2020) [2022] UGHC 12 (19 July 2022)
The court found that the plaintiff had a valid cause of action against the defendant, as his account was debited without authorization and the bank owed him a fiduciary duty. While the defendant was not found liable for the underlying fraud, having acted promptly to investigate and refund the money within the stipulated 60 days, the court held that the bank breached its fiduciary duty by failing to communicate the outcome of the investigation to the plaintiff. The indemnity clause did not absolve the bank of liability since the plaintiff did not initiate the transaction. The court awarded gen…
Source excerpt
- Banker Customer Relationship
- Fiduciary Duty
- Unauthorized Debit
- Damages Assessment
- Interest Award