ABSTRACT
The right of the customer to repayment of his deposit is suspended until all the customer’s obligations to the bank have been fully satisfied (ie: the loan has been repaid).
The triple cocktail
➤ The House of Lords:
dismissed the principle of conceptual impossibility, and
held that there is no reason why a charge cannot be taken over a deposit by the
bank holding that deposit (Morris v Agrichemicals Ltd (BCCI No 8) [1997] 3 WLR
The inability of a bank to sue itself is immaterial as it merely has to make the
appropriate book entries.
