EWHC resolves dilemma of orphaned safe deposit boxes

June 11, 2025by Admin
The England and Wales High Court (EWHC) has granted an investment bank’s request to sell the contents of 14 safe deposit boxes whose owners cannot be traced. The bank’s predecessors had held the boxes for between 44 and 122 years and had contacted the owners when closing their UK retail operations in 1994. However, some cases remained unresolved with even the identities of their original depositors now lost. There appears to be no general common-law right to dispose of goods that a bailor has refused or is unable to collect. However, the EWHC has decided that the bank can assume an implied term that the arrangements with at least some customers would cease if they or their successors in title became uncontactable and could not be traced despite reasonable efforts (Credit Agricole v Persons with an Immediate Right to Possess Goods Contained in Safety Deposit Boxes, 2025 EWHC 1346 Ch).

 

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Leeds: 94 Street Lane, Leeds

Batley: 504B Bradford Road, WF17 5JY

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