![]() The tenant's claim to any moneys paid under this section shall be prior to that of any creditor of the landlord, including a trustee in bankruptcy or receiver, even if such moneys are commingled. ![]() In any action brought by the tenant to recover the deposit, the prevailing party is entitled to recover the costs of suit or arbitration, including reasonable attorneys' fees. If the foreclosed-upon owner does not either immediately refund the full deposit to the tenant or transfer the deposit to the successor, the foreclosed-upon owner is liable to the tenant for damages up to two times the amount of the deposit. If, during the tenancy, the tenant's dwelling unit is foreclosed upon and the tenant's deposit is not transferred to the successor after the foreclosure sale or other transfer of the property from the foreclosed-upon owner to a successor, the foreclosed-upon owner shall promptly refund the full deposit to the tenant immediately after the foreclosure sale or transfer. If during a tenancy the status of landlord is transferred to another, any sums in the deposit trust account affected by such transfer shall simultaneously be transferred to an equivalent trust account of the successor landlord, and the successor landlord shall promptly notify the tenant of the transfer and of the name, address, and location of the new depository. The landlord shall provide the tenant with a written receipt for the deposit and shall provide written notice of the name and address and location of the depository and any subsequent change thereof. If during a tenancy the status of landlord is transferred to another, any sums in the deposit trust account affected by such transfer shall simultaneously. Unless otherwise agreed in writing, the landlord shall be entitled to receipt of interest paid on such trust account deposits. Rosenblatt has particular experience in dispute resolution, including banking and contractual disputes.All moneys paid to the landlord by the tenant as a deposit as security for performance of the tenant's obligations in a lease or rental agreement shall promptly be deposited by the landlord in a trust account, maintained by the landlord for the purpose of holding such security deposits for tenants of the landlord, in a financial institution as defined by *RCW 30.22.041 or licensed escrow agent located in Washington. The Rosenblatt team was led by Danielle Carr, supported by Luther Kisanga (Senior Associate), Georgina Fallows (Associate) and George Kestel (Solicitor). Rosenblatt instructed counsel James Cutress QC and Daniel Carall-Green of Fountain Court Chambers.Ī copy of the Judgment can be found here: We expect this significant decision will be viewed with much interest, in England and abroad.” This Judge was assisted by an earlier decision of this Court (against different banks).ĭanielle Carr, Partner at Rosenblatt said: “ The High Court has recognised our client’s right in this case, to an international transfer of funds held in his accounts with Bank of Beirut S.A.L. Prior to you moving in, you will need to pay the outstanding balances on your account as detailed in your Initial Monies Request which you will receive. The Court also rejected the Bank’s argument that the financial crisis in Lebanon, the Bank’s desire to follow advice of the Association of Banks in Lebanon or to “ avoid a rush on the banks” was an acceptable reason not to make the transfers.įurther, given the Bank was under an accrued obligation to make an international transfer, it was not assisted by a ‘tender and deposit’ procedure it had later sought to commence in Lebanon. ![]() In doing so, Freedman J rejected the Bank’s argument that there was no such contractual obligation. Bitar is entitled to the remedy of specific performance, with interest. The Bank failed to make the transfers as instructed, such that Mr. ![]() In particular, the Court found that in the circumstances of this case, the Bank had a contractual obligation (based on construction of the terms of the relevant contracts, reinforced by Lebanese banking custom or practice) to make international transfers of funds. The Bank defended the action, which was tried in July 2022. ![]() The claim arose in the context of the Lebanese financial crisis, which has seen the value of the Lebanese currency collapse and Lebanon default on its sovereign debt. Bitar claimed the Bank did not comply with his transfer instructions and was obliged to make international transfers of funds in his accounts to the UK. Bitar (a UK national) commenced a claim in the English High Court in April 2021, seeking repayment of funds in two accounts with the Bank. This significant decision will be of interest to depositors with funds held in Lebanese banks. The court found that, in the circumstances, the Bank had an obligation to make international transfers of funds deposited in our client’s bank accounts. George Bitar, has succeeded in his claim in the English High Court against Bank of Beirut S.A.L. ![]()
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