DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
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This month we’re digging into the legal, operational, and regulatory tensions at the core of LC and guarantee practice.
From 2014 to 2017, Indian businessman Mehul Choksi colluded with associates and bank officials to fraudulently obtain LCs and letters
Mehul Choksi’s name has been removed from Interpol’s database of “Red Corner Notices” (Red Notices).
Maybank gains appeal in Malaysia's Federal Court against Punjab National Bank. The judgment emphasizes compliance with UCP600 in LC matters, affirming the validity of documents and the negotiating bank's right to make advanced payments based on faxed copies.
Negotiating Bank sued LC Issuer for breach of reimbursement undertaking.
Stung by the massive letter of credit scandal committed against Punjab National Bank (Feb 2018 DCW 44), India’s central
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