DCW maintains a list of recently-decided court cases involving commercial letters of credit, demand guarantees, and other trade finance instruments.
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English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 663 Type of Lawsuit: Beneficiaries sued Confirming Bank that
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
Lummus Technology Heat Transfer B.V. v. Credit Agricole Corporate Investment Bank involves a EUR 5.1 million (USD 6.
Recent court cases in Singapore have shone a spotlight on the serious perils of relying on a letter of indemnity (LOI) in lieu of presentation of shipping documents.
Further to previous reporting (“Aviation Company Says Bank Wrongfully Dishonored LCs Backing Russian-Leased Planes”, April 2022 DCW 6), the Commercial
Lloyd’s of London, AIG, Chubb, Swiss Re, and seven other insurers contend that they are not obligated to pay
Even in the initial weeks following imposition of sanctions after Russia’s February 2022 invasion of Ukraine, the aviation industry
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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