How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
On 8 April 2022, the Council of the European Union imposed restrictive measures against an additional 217 individuals and 18 entities, including Bank Otkritie, Novikombank, Sovcombank, and VTB. With this action, EU restrictive measures now apply to 1091 individuals and 80 entities.
Those designated are subject to an asset freeze and EU citizens and companies are forbidden from making funds available to them. EU Council Regulation No 269/2014 Article 1(g) defines ‘funds’ to mean financial assets and benefits of every kind including guarantees, performance bonds, letters of credit, and bills of lading.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
This Executive Summary provides an overview of topics discussed and debated by leading professionals at the conference.
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
Following the discussion of ICC Opinions on 2 July 2024, updates on other ICC Banking Commission projects were given. ICC
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