UK Court Allows Discovery of Bank Information from Foreign Bank

The High Court in the United Kingdom granted an order for the identification and location of bank accounts from the London branches of two Italian banks. In Credit Suisse Trust v. Intesa Sanpaolo & Anor. High Court (Ch. D), 6 March 2014, the applicant Credit Suisse Trust sought Norwich Pharmacal relief against two Italian banks in connection with a worldwide freezing order issued after a trial in Guernsey. The Italian banks questioned whether information could be released by Italian banks whose activities were governed by Italian law under an order from an English court. The court decided that it was appropriate to give relief against a bank whose activities take place abroad. The court also concluded that at least some of the information could be obtained in the UK so there was a point in granting relief even if the banks may not be able to provide all of the required information.

Therefore, if a foreign bank is located in the United Kingdom, it may be subject to providing discovery information of its account holders whose accounts may be located outside the United Kingdom.