DCW Monthly: October 2026
This month’s content follows a standby LC past issuance and asks a practical question: once the instrument is out
2 min read
When businesspeople engage in mutual business dealings and loans to each other under multiple corporate entities they operate but their relationship ultimately sours and each claims against the other, will the entire running account between them be deemed unenforceable if certain transactions were illegal?
In the Singapore High Court case, Deepak Mishra v. Rashmi Bothra,[[1]] claimants (Deepak) pleaded that defendant (Rashmi) owed them more than USD 54.7 million under a running account, while Rashmi pleaded that Deepak owed her more than USD 137.1 million.
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