Bank employee had no knowledge of solicitors’ accounting rules, court told

The Jyske Bank employee who oversaw Marrache & Co’s accounts until the law firm collapsed told the Supreme Court yesterday that he had received no formal training on the rules governing solicitors’ client accounts.
Senior Credit Administrator Bill Bishop, who oversaw all Marrache & Co accounts at Jyske Bank from 2003 until the solicitor’s firm collapsed in 2010, said he did not know client accounts could not be overdrawn.
The evidence was heard during the fourth day of a case in which the liquidators of Marrache & Co, Edgar Lavarello and Adrian Hyde, are suing Jyske Bank.
The liquidators claim the bank provided “dishonest assistance” to the firm’s senior partners Benjamin, Isaac and Solomon Marrache, all of whom were later jailed for fraud.
They hope to recover approximately £6.7m of client money in different currencies from the bank, with millions more in interest.
Yesterday, the court heard that Marrache & Co had been a client of the bank prior to Mr Bishop’s promotion to account manager, having opened accounts in 2001.
Mr Bishop told the court that he did not know of the “solicitor’s accounts rules” when he managed Marrache & Co’s account.
He explained he had been told the Marraches were reputable and had trusted the brothers.
FULL STORY IN OUR PRINT AND E-EDITIONS