Bank of Ireland v Hollicourt (Contracts) Ltd [2000] EWCA Civ 263 is a UK insolvency law case concerning whether a bank should pay restitution for moneys paid out of its account after a moratorium under the Insolvency Act 1986 section 127.
The Bank of Ireland, 31 King Street, Leeds, continued to operate its account, paying money in and out, for three months after because it missed (through human error) the notification of the winding up petition in the Gazette.
Blackburne J, applying dicta from Gray's Inn, held that the bank was liable to pay restitution for the money that had passed through its facility.
Banks, on the other hand, were a readily identifiable target to proceed against and will no doubt now be breathing a sign [sic] of relief.
[attribution needed] So property could be recovered from the payees only, but not the bank which acted as a simple agent in the transfer.