Securities held by a foreign bank definition

If securities are with an English bank to order of a foreign bank for the account of a foreign national and thus, no contractual relationship exists between the English bank and him, then bailment law applies to the securities and the bailor is not entitled to delivery of the bonds and the English bank, as bailee of the foreign bank, will not be compelled to deliver them up. It is also well recognised in English law that where the delivery of the securities such as bonds would involve the foreign bank in committing an act that was illegal abroad, the English courts will not enforce delivery by a English branch of that bank. It was argued in Kahler v Midland Bank Ltd (Lord MacDermott and Lord Reid dissenting) that