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NEGOTIABLE INSTRUMENTS AND BILLS OF EXCHANGE - Bills, cheques and notes - Liabilities of parties

Friday, October 27, 2017 @ 1:33 PM  

Appeal by Teva Canada Limited (Teva) from a judgment of the Ontario Court of Appeal setting aside a decision concluding that the respondent banks were liable for conversion. Teva was the victim of a fraudulent cheque scheme implemented by one of its employees, McConachie. McConachie drafted false cheque requisition forms for business entities with similar or identical names to those of Teva’s real customers. Based on McConachie’s fraudulent forms, Teva’s accounts payable department issued the cheques and mechanically applied the requisite signatures. McConachie registered the business...