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Issuer sued beneficiary alleging sham transaction and breach of warranties; beneficiary and prior sellers lodged indemnification claims.
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
Canada's Court of King’s Bench of Alberta denied injunction application of LC Applicant who sought to enjoin Beneficiary demand on standby LC.
Upon request of its customer, Lummus Technology Heat Transfer B.V., Credit Agricole Corporate & Investment Bank issued a letter
💡First Modular Gas Systems Ltd. v. Citibank Europe PLC [2024] [2024] IEHC 1 [Ireland] Type of Lawsuit: Applicant renewed request
Confirming Bank moved to dismiss Beneficiary complaint for wrongful dishonor. ISP98 Standby subject to New York Law.
💡The “Jeil Crystal” [2024] [2024] SGHC 74 [Singapore] Type of Case: Issuer sued Vessel Owner for misdelivery; Vessel Owner alleged
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