DCW maintains a list of recently-decided court cases involving commercial letters of credit, standby LCs, demand guarantees, and other trade
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This month we’re digging into the legal, operational, and regulatory tensions at the core of LC and guarantee practice.
Porch Group, which has pursued multiple lawsuits in attempting to recover heavy losses from the Vesttoo reinsurance letter of credit collateral fraud, has agreed to a USD 7.1 million settlement with Vesttoo Creditors Liquidating Trust over claims relating to a reinsurance transaction for Porch Group subsidiary, insurer Homeowners of America Insurance Company (HOA). Porch Group had contended it was entitled to more than USD 15 million held by the Liquidating Trust.
Israeli insurance company Vesttoo Ltd. had filed for Chapter 11 bankruptcy in August 2023.
This month we’re digging into the legal, operational, and regulatory tensions at the core of LC and guarantee practice.
In a highly anticipated ruling, the English High Court concluded that AerCap Ireland Limited and other lenders who lost aircraft
Three Draft Opinions will be addressed at the next session of ICC Banking Commission’s quarterly discussion of Opinions on
Contemporaneously with its release of its latest Draft Opinions on 6 June 2025, ICC issued a one-page memorandum note regarding
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