Christopher Byrnes

Banks Upbeat EU Could Keep 20% CCF for Trade Finance Products

According to published reports, the EU appears to be on a path for abandoning a planned tenet of Basel reforms

Inflation Causing Captive Insurers to Re-Think LC Use

Inflationary pressures and resulting interest rate hikes are forcing captive insurers that have relied on letters of credit as a

Complaints That Banks Aided Terrorists Fail

In Wildman v. Deutsche Bank, the US District Court for the Eastern District of New York dismissed an action brought

Insurers Contest DAE Claim over Aircraft Stranded in Russia

Lloyd’s of London, AIG, Chubb, Swiss Re, and seven other insurers contend that they are not obligated to pay

Bad Standby LC Wording from Beneficiaries: Push Back or Get Pulled In

A chronic concern for banks is when intended LC beneficiaries – often government agencies, municipalities, insurance companies, and other so-called power

ICC Opinions Discussed at January 2023 Session

Three Draft Opinions were presented for discussion at the ICC Banking Commission’s latest quarterly meeting on 31 January 2023.

In Memoriam: Rita Ricci (1959-2023)

The Trade Finance community was deeply saddened at the passing of Rita Ricci on 14 January 2023 after her courageous

Banking & Finance Lawyer Peter Carson Retires

Concluding a distinguished career in law, Peter H. Carson retired from Sheppard Mullin at the end of 2022. After starting

Iran, Russia Agree on SWIFT Substitute

With Iranian banks and some Russian banks unable to use SWIFT, the central banks of the two countries signed an

Evaluating Potentially Unusual Vessel Behavior

The Depths of Crypto Mining

Favorable power costs and relatively low land prices are two factors that have attracted cryptocurrency miners to the US state