International bank Abu Dhabi Commercial Bank was fined £25,000 for transferring the Jersey assets of a deceased client to a foreign court without first requesting a Jersey Probate Grant; a case which underlines the importance of following the correct procedures, Ogier partner Julie Melia has warned.
The bank was fined £25,000, plus £2,085 that should have been paid in stamp duty after admitting one count of "intermeddling", an offence under Article 23 of the Probate (Jersey) Law 1998, which relates to the transfer of a deceased person's assets or estate without first having the lawful authority to do so....
