MARITIME LAW |
Practice |
Royal Bank of Scotland plc v. Golden Trinity (The)
T-32-99, T-38-99, T-119-99
2001 FCT 427, Hargrave P.
2/5/01
12 pp.
Motion for further answers on cross-examinations of deponent--Whether plaintiff, Royal Bank of Scotland, might be required to disclose information from account of corporate entities, persons not parties to litigation--Issue of confidentiality arising out of sale of Kimisis III, vessel initially owned by George Lygnos group, to Peter Lygnos group, owner of defendant ships herein--Both groups resulting from corporate split in Lygnos family in about 1995: two groups completely separate corporate entities--Royal Bank of Scotland financier to both groups--Conceded position bettered by transfer of vessel ownership--Whether name, other particulars of individual customer of bank who is neither party to nor employed by party to litigation, should be disclosed--One vessel in Peter Lygnos fleet, subject-matter of action, Golden Trinity, sold by Federal Court order to one ship company utilizing managing agents--Without expressed, implied permission of customer, bank must not disclose state of customer's account, transactions with bank, information related to customer acquired by reason of keeping account, subject to certain limited, defined exceptions--One of these exceptions disclosure under compulsion of law--Royal Bank of Scotland correct in refusing to divulge account information of unnamed cousin of Lygnos family, not himself Lygnos--Issue of disclosure of information from George Lygnos group file as to debt and asset ratio more complex--Tramp Oil having answer bearing on George Lygnos group debt to fleet valuation to effect Royal Bank of Scotland bettered position by financing transfer of Kimisis III from George Lygnos group to Peter Lygnos group, as Peter Lygnos not only strong, capable operator having cash reserves, but also buying Kimisis III at relatively low price--There must be limit on search for possible helpful gloss Bank records of unrelated George Lygnos group might provide--Such expedition akin to fishing expedition--While information might prove of marginal utility, exercise of great caution in ordering disclosure mitigates against disclosure--No need for disclosure by Royal Bank of Scotland of records of unrelated George Lygnos group.