[2023] HKCFA 3, PT ASURANSI TUGU PRATAMA INDONESIA TBK V. CITIBANK N.A. - Judgment, Outcome & Holding

Practice Areas

Banking & Finance Theft, Fraud & Dishonesty

Judges (5)

Cheung Coram Fok Coram Lam Coram Lord Sumption Coram Ribeiro Coram

Counsel (6)

Clifford Chance Firm Holman Fenwick Willan Firm Charles Sussex Counsel Appellant Jat Sew-Tong Counsel Respondent John Hui Counsel Respondent Tom Ng Counsel Appellant

Parties (3)

Citibank N.A Respondent Pratama Indonesia Tbk Unknown Pt Asuransi Tugu Appellant

Summary

PT Asuransi Tugu Pratama Indonesia appealed against Citibank for the recovery of approximately US$13 million in unauthorised debits from its accounts in the 1990s. The Court of Final Appeal considered the proper approach to a bank's liability for unauthorised transactions and the applicable limitation period. The appeal was allowed and judgment was entered for the appellant.

Statutes Cited

Limitation Ordinance (Cap 347)

Cases Cited (11)

UK (10)

[1921] 3 KB 110 [1962] AC 413 [1968] 1 WLR 1555 [1986] 2 All ER 488 [1989] 1 WLR 1340 [1992] 4 All ER 363 [2000] QB 917 [2020] 2 All ER 294 [2020] AC 1189 [2022] UKPC 48

HK (1)

(2010) 13 HKCFAR 479

Cited By (2)

[2026] HKDC 672

LAM KIM FEI V. GLORY SKY PRECIOUS METALS LTD

[2024] HKCFI 984

EXCEL COURAGE HOLDINGS LTD V. SETO MING WAI AND ANOTHER

Citation influence

HKLII records this judgment as cited by 5 later judgments. This counts every later Hong Kong judgment that references this case, which is broader than the resolved citations listed above.

[2025] HKCFI 558 Court of First Instance

4 February 2025

[2023] HKCFI 1828 Court of First Instance

18 July 2023

[2024] HKCFI 984 Court of First Instance

9 April 2024

[2025] HKCFI 4562 Court of First Instance

3 October 2025

[2025] HKDC 1244 區域法院

25 July 2025