“…he period in question, HSBC did not. Its duty was to SIB alone as was explained in Singularis Holdings Ltd (In Liquidation) v. Daiwa Capital Markets Europe Ltd [2018] 1 WLR 2777 (“Singularis”): see [82] in Singularis where it was recorded that it had been agreed that the Quincecare duty was owed to Singularis (the customer), and not di…”
“…In Singularis Holdings Ltd (In Official Liquidation) v. Daiwa Capital Markets Europe Ltd [2018] EWCA Civ 84, [2018] 1 WLR 2777 the Court of Appeal (Vos C, with whom Gloster and McCombe LJJ agreed) suggested at [65] that “an appellate court should not interfere [in a lower court’s decis…”
“…, however, to act upon glaring signs that the purported reasons given by the agent of Mr Al Sanea for the payments were a sham. On appeal, ([2018] EWCA Civ 84, [2018] 1 WLR 2777) the finding that Daiwa had been in breach of the Quincecare duty was not challenged and the appeal focused, broadly, on the availability of defences arising f…”