Anz-Nhb Row

My contention is that chaos will result of this majority now becomes accepted practice and bankers credit a/c payee cheques to unauthorised accounts, including bearer, on assumptions of drawees intentions without checking back on them. The reasoning which enables the majority to reach this conclusion has been ably exposed in all its weakness by the minority arbitrator. The myth that was given wide credibility is.that market practices justfied ANZs action is given the lie.by both majority and minority.arbitrators.

S Venkitaramanan Chennai