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’ˇFirst Modular Gas Systems Ltd. v. Citibank Europe PLC [2024] [2024] IEHC 1 [Ireland] Type of Lawsuit: Applicant renewed request
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...
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
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?
Negotiating Bank sued LC Issuer for breach of reimbursement undertaking.
Celestial Aviation Services, a subsidiary of Irish-based aircraft leasing giant AerCap, filed a USD 45.8m suit in London High
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