The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
The BNP v. Natixis case involved the assignment of letter of credit (LC) proceeds and nomination under an LC, raising legal considerations. The court ruled in favor of the assignee (BNP), stating that Natixis waived any right to setoff when accepting the assignment. A Chinese law view
