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.
đź’ˇCelestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 663 Type of Lawsuit: Beneficiaries sued Confirming Bank that
đź’ˇCelestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
Seller/Beneficiary moved for default judgment; Issuer alleged previous order required correction.
Issuer sued Applicant for reimbursement.
Does an NY court have jurisdiction over an Indian collecting bank that is alleged to have violated the URC 522 for neither collecting and remitting funds to pay for shipments?
Unreimbursed LC Issuer alleged sham transaction between Beneficiary and insolvent Applicant.
Vessel Owner appealed summary judgment granted to unreimbursed Issuer that alleged misdelivery. -- footnote 4 link to other case?
Beneficiary Lodged Creditor's petition against insolvent Non-Bank Issuer alleging wrongful dishonour.
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