Claims clause
The existence of a client instruction may remain undecided in a residual banking relationship
Benjamin Vignieu — 6 May 2024
A recent Geneva ruling illustrates the effects of a residual bank agreement combined with a claims clause when the existence of a client instruction is disputed by the parties in a one-off investment advisory relationship (ruling ACJC/231/2024 of the Civil Division of the Geneva Court of Justice of 13 February 2024). In 2003, a company based in the British Virgin Islands opened a relationship with a Swiss bank. The bank's general terms and conditions provided to the client contained a[...]