In what circumstances will a bank manager be dismissed if he approved a loan without taking security or advising the bank of his financial involvement with the customer?
British Columbia, Canada
The following excerpt is from Sheehan v. British Columbia (Hydro & Power Authority), 1999 CanLII 6968 (BC SC):
In Stock v. Bank of Nova Scotia (1988) 22 C.C.E.L. 218 (B.C.S.C.) a bank manager loaned money to a customer for investment in the stock market. They agreed to split the profits. The manager approved other loans without taking security or advising the bank of his financial involvement with the customer. His dismissal was upheld.
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