Christopher Byrnes

Indian High Court Reverses Order, Denies Injunction

In Wellington Cantonment Board v. Gharpure Engineering & Constructions, the Madras High Court (India) set aside a District Judge order

AFP Guide Addresses Trade Finance and Ongoing Pursuit of Digitalization

Accounting Scandal Raises Questions about Supplier Finance

Published reports about the sudden collapse of Americanas SA into bankruptcy protection in mid-January 2023 suggest that the major Brazil

Turkey Declares State of Emergency after Quakes

Turkey, by way of Presidential Decree No. 6785, has declared a three-month state of emergency in ten provinces impacted by

EU Banks, Corporates Cautiously Optimistic While Awaiting Decision on Treatment of Trade Finance Products

EU Parliament may keep trade finance instruments' CCF at 20% instead of 50%. Trade specialists urge caution; Cazenove of Societe Generale warns against potential risks to corporates and economies.

ICC Draft Opinions for April 2023 Meeting Released

Two draft opinions, one new and one re-submitted, were released in mid-February to ICC National Committees for review and comment

Bank of Punjab Empowered to Issue LCs Supporting Pharma Needs

Punjab Health Minister Dr. Javed Akram directs Bank of Punjab to issue Letters of Credit (LCs) for crucial pharmaceutical imports amidst concerns over foreign currency constraints. Details on safeguards and bank selection remain unclear. Stay updated on this development.

2023 ICC Dates and Status of TABs

The next ICC Opinions session will take place on 18 April 2023 in a purely virtual setting, followed by a

Bangladesh’s  Misinvoicing Problem

No country has greater reliance on letters of credit than Bangladesh so it is reasonable to surmise that reports in

Kelly-Louw Appointed Department Head

Effective 1 January 2023, Professor Michelle Kelly-Louw has been appointed Head of the Department of Commercial Law for a three-year term at the University of Cape Town (UCT)

RBI Takes Action against Zoroastrian Bank for Compliance Failure

The Reserve Bank of India (central bank) has assessed an INR 1.25 crore (USD 153,000) penalty against Zoroastrian

Pakistan Expands Import LC Requirement

In an effort to boost protection of the country’s dwindling foreign reserves, the government has directed all importers to