Recently Decided Cases
DCW maintains a list of recently-decided court cases involving commercial letters of credit, demand guarantees, and other trade finance instruments.
💡The “Jeil Crystal” [2024] [2024] SGHC 74 [Singapore] Type of Case: Issuer sued Vessel Owner for misdelivery; Vessel Owner alleged
Seller sued Collecting Bank for breach of URC 522
The appeal in Zenrock. In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
💡Kuvera Resources Pte Ltd. v. JPMorgan Chase Bank, N.A. [2023] [2023] SGCA 28 [Singapore] Type of Lawsuit: Beneficiary appealed
Local Guarantor petitioned for rehearing from the Supreme People’s Court of order for Counter Guarantor to terminate payment to Local Guarantor for having committed guarantee fraud and not acting in “good faith”.
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