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Whether a central bank lawfully revoked a bank's licence and reclaimed supervision and forensic audit costs.
Banking law – revocation of banking licence – statutory powers under Banking Act (ss 10, 31) – due process and urgency; Prudential supervision – recovery of costs (s 53) – forensic audit fees recoverable; Constitutional/administrative law – natural justice and section 43 – adequacy of hearing in urgent financial contexts; Consent orders and side letters – duress, waiver and estoppel; Public law torts – misfeasance in public office – bad faith not established; Interest – compound interest awarded.
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