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Category: Business Law
Satisfied Customers: 4633
Experience:  23 Years business & securities law, NY and FL bars. SEC all states.
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A banking deposit account was open in a Latin American branch

Customer Question

A banking deposit account was open in a Latin American branch of a spanish Bank in 1991
The account was coded and no paper agreement held by the owner of the account , only payslips, statements and correspondence.
Until 1995 the owner living in Russia received statements of account then he asked to stop sending this documents
in 1995 he issued a power of attorney for his son in one corresponding entity of the Bank in Barcelona (then supposedly transmitted to the bank where the account). There is no copy.
In 1998 the Bank was takeon over by standard chartered bank. The successor of the Bank is located in US.No notice was received by the account holder about the merger.
In 2006 the owner of account found that there was no bank, we asked Standard Chartered and they would not pay.We issued an official letter asking to investigate and the response was we should provide the agreement and even if we do not, the archives were destroyed and thus Standard Chartered no longer legally bound. Ps advise.
Submitted: 7 years ago.
Category: Business Law
Expert:  FLCORPLAWYER replied 7 years ago.

I am an American attorney but I will try to help you. The government agency in Spain who are in charge of bank regulation must have information on the bank in America that took over Standard Chartered's Spanish operations. Banks just don't disappear. However, my deep concern for you is that the type of banking you were doing, with numbered accounts and no records, is not allowed in the USA. Therefore, even if you were to find the successor bank in the USA they are not obligated to pay you unless you have the paperwork to prove you are the owner of the account. And in order to prove that, the account itself would have to be opened in your name. You were not provided information about the merger because you had requested that you not receive written communications from the bank. If you wish to try to contact Standard Chartered in the USA their address is:


One Madison Avenue

New York, New YorkNNN-NN-NNNN/p>


Telephone(NNN) NNN-NNNN/p>

Customer: replied 7 years ago.
PLse read back into the question with care.
Standard Chartered took over the operations of the whole Bank called Extebandes. So Extebandes was taken over by Standard Chartered (in 1996 i recall..).
When we contacted Standard Chartered asking for money from Extebandes we provided documents --- the codes of accounts, the slips dated 1995 last with our names and balances of account on them, the faxes we sent. Thats all we have.
St. Chartered first asked to contact US office as succesor, then told us that they would not help because the archives are kept only for 6 years.
SO the point is that our money is stolen and as proof we only have a string of account statements, payslips and faxes. How can we get tht money back (abt 37k USd as of 1995 should be 50% more now with interest ,,).
Expert:  FLCORPLAWYER replied 7 years ago.
Under this set of circumstances you have two choices. File a formal complaint with the banking authorities in Spain and/or the USA, or file suit against St Ch either in Spain or the USA. If you file a lawsuit you should be able to "reconstruct" the account with the documents that you have available.
Customer: replied 7 years ago.

which is the best choice and

how can i file a lawsuit if i live outside US

moreover the expenses that i will bear what could they be in the case

Customer: replied 7 years ago.

do you really think that old account statements and payslips are a chance to 'recostruct' as u say

which is the best choice a complaint or a suit


how can i file a lawsuit if i live outside US

moreover the expenses that i will bear what could they be in the case