The case of Libyan Arab Foreign Bank v Bankers Trust Co [1989] QB 728 - Essay Example

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The case of Libyan Arab Foreign Bank v Bankers Trust Co [1989] QB 728

This traditional approach can be seen in the case of Serbian Loans3 any contract that is not a contract between states in their capacity as subjects of international law is based on the municipal [domestic] law of some country The rules thereof may be common to several states and may even be established by international conventions or customs, and in the latter case may possess the character of true international law governing relations between states.4 Therefore when it comes to investment contracts between states then it will have elements of adhering to the contractual word of the agreement; as well as the duty of care that the obligations are met as in public international contractual agreements. There has been a suggestion that cases that are on a private international matter allows the domestic court that makes the decision have an extraterritorial effect in imposing the obligation across borders, i.e. ...Show more

Summary

1) The case of Libyan Arab Foreign Bank v Bankers Trust Co [1989] QB 728 is an indication of the new approach to banking and business in the era of terrorism. Although it pre dates September 11th 2001 it indicates the modern approach that banks, companies and financial institutions are under a duty to disclose any information are a threat to national security.1 The main difference in post-September 11th 2001 it is a duty to disclose to the international community, which is a total change to the face of modern business law…
Author : rjerde
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