DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
This month, we sort through some of the big questions shaping LC practice today. Is it time to rewrite UCP
Following his writing in the past two editions of DCW, Robert Parson examines legal developments on sanctions and sanctions clauses that have arisen in courts recently and implications for LC practice.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
For the 24th consecutive year, the Institute of International Banking Law & Practice conducted its one-day Americas Letter of Credit Law Summit.
11 October 2023, New York For the 17th consecutive year, the Institute of International Banking Law & Practice conducted its
Confirmation to any modern-day documentary credit is an essential risk mitigation tool for a beneficiary that enables it to deal
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 663 Type of Lawsuit: Beneficiaries sued Confirming Bank that
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
Further to previous reporting (“Aviation Company Says Bank Wrongfully Dishonored LCs Backing Russian-Leased Planes”, April 2022 DCW 6), the Commercial
Lloyd’s of London, AIG, Chubb, Swiss Re, and seven other insurers contend that they are not obligated to pay
Even in the initial weeks following imposition of sanctions after Russia’s February 2022 invasion of Ukraine, the aviation industry
Foreign leasing companies which have supplied Russia’s airline industry with more than half of its 980 aircraft fleet recovered “only a fraction” of the jets
First quarter 2022 financial results released by AerCap, the world’s largest aircraft leasing company, indicate it has recognised a USD 2.4b net charge related to the Russian invasion of Ukraine.
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