DCW Monthly: December 2024
We’re thrilled to share the newest edition of DCW’s premium monthly content. This month’s highlights include: * Five
Issuer sued beneficiary alleging sham transaction and breach of warranties; beneficiary and prior sellers lodged indemnification claims.
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...
Within the recent past, trade finance banks have suffered billions in losses due to fraud. This has obliged many banks to reconsider their role in financing trade flows whilst others have simply abandoned the business. Citing Glencore, Navig8 Armetrine, and Hin Leong
Those who forget the lessons of history are condemned to repeat them. Trade finance frauds are no exception. Lessons from Solo Industries, Credit Agricole v. PPT, and practical advice for trade financiers.
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...
In Crédit Agricole Corporate & Investment Bank, Singapore Branch v. PPT Energy Trading Co Ltd [2022] SGHC(I) 1, the
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