The general rule is that damages will not be awarded for loss of reputation. However, in Malik v Bank of Credit and Commerce International [1998] AC 20, an employee had worked for the Bank of Credit and Commerce International, which collapsed in 1991 amid allegations that the bank had operated in a corrupt and dishonest manner. The employee claimed that having worked for BCCI had adversely affected his employment prospects. The House of Lords found that the employee did have the basis for a cause of action against his former employer for the loss caused by the way it was alleged that its business had been run. This was based on the fact that contracts of employment contain an implied term of trust and confidence such that the employer is under an obligation to carry out its work in an honest way. Damages were awarded but were limited to the claimant's financial loss that was suffered due to an inability to obtain alternative employment resulting from breach of this implied term.