PROCTOR PHAIR LAWYERS
Solicitors and Barristers

25/11/13
A claim against one of the big banks

Proctor Phair Lawyers represents a client in its claim against one of the big banks that it allowed an unauthorised person to make withdrawals from the client’s bank account totalling close to one million dollars over a period of six years.  An authority was originally given to the unauthorised person however it was withdrawn days later and the client nominated himself as the sole authority.  Such authorisation was given to the bank in accordance with the bank’s instructions and representation that it would revoke the prior authorisation and give the client sole authority, however it did not have that result.

 

Prior to engaging Proctor Phair Lawyers the client had made a claim privately against the bank however his claim was rejected on the basis the bank found he should have been more diligent in taking care of his own affairs.  The client came to Proctor Phair Lawyers and we instituted proceedings on his behalf and adduced detailed evidence to show that the bank was liable and on this basis the bank came to the table and agreed to mediate the matter.

 

The matter was settled at mediation and the client is happy with the result as he received a substantial settlement sum and avoided a costly trial.  An important matter which came out of the evidence is the ease with which a fraudster can change documents online, the client not discovering the withdrawals due to the bank statements having been changed by the fraudster before they were submitted to the client’s accountant.

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ABOUT PROCTOR PHAIR

Proctor Phair Lawyers was established in 1962. The current principal Russell Grant Phair commenced working in the practice in 1973 and in 1982 became the principal.