This month, we're spotlighting the challenges and hard-earned lessons emerging from LC disputes and sanctions enforcement crackdowns. Carter
DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
Continuing an annual survey written by top legal experts each year since 1992, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2023.
đź’ˇKuvera Resources Pte Ltd. v. JPMorgan Chase Bank, N.A. [2023] [2023] SGCA 28 [Singapore] Type of Lawsuit: Beneficiary appealed
Pro se Beneficiary sued Issuer for wrongful dishonor.
Seller/Beneficiary moved for default judgment; Issuer alleged previous order required correction.
Unreimbursed LC Issuer alleged sham transaction between Beneficiary and insolvent Applicant.
Beneficiary Lodged Creditor's petition against insolvent Non-Bank Issuer alleging wrongful dishonour.
OCBC sues STI Orchard and Winson Oil over losses in a deal with Hin Leong Trading involving 780,000 barrels of gasoil, leading to fraud-related losses. The transaction aimed at selling 36,000 mt of gasoline to PT Pertamina after blending.
In the latest of its ongoing series of technical advisory briefings released on 27 June 2022, the ICC Banking Commission addressed the subject of “Reducing Discrepancy Rates under Documentary Credits” (TAB-3)
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