Major Bank defeats contrived fraud claim

Posted on: February 13th, 2014

PCB defeats prominent US law firm in obtaining judgment that allegations of fraud against major bank were contrived.

PCB has succeeded in obtaining judgment handed down today, for many millions of dollars on behalf of a major bank which had been accused of corporate raiding. The Judge held that the allegations against the bank had been contrived and that the bank should have judgment.

Partner Anthony Riem said “outrageous allegations were made against a very substantial bank in an effort by a wealthy businessman to avoid a foreign judgment being enforced in this jurisdiction. Those allegations included an attack on the impartiality of a foreign court, as well as fraud by the bank on that court. The bank however has prevailed in persuading the English court that these allegations were contrived and the defences raised were devoid of merit.”