July 2026
DCW Monthly: July 2026
Courts have been circling the same idea since 1765: the bank pays unless there is fraud. What they have never
Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch
7 articles
DCW Articles
Thank heavens: Why banks can keep calm and carry on after Celestial Aviation
Assessing the risk of breaching regulatory and compliance requirements while simultaneously examining for documentary compliance under stringent time pressures has complicated banks’ trade finance operations for years. A UK Supreme Court decision provides a degree of comfort and clarity to banks.
DCW Updates
UK Supreme Court Decides for UniCredit in Sanctions Case
The United Kingdom’s Supreme Court decision in UniCredit Bank GmbH v. Celestial Aviation Services Ltd.[[1]] was issued 25
DCW Articles
Letters of Credit
In the latest installment of this annual survey article series, Carter Klein examines the most significant letter of credit issues emerging from cases decided in 2024.
DCW Updates
English Court Rules for Lenders in Russian Aircraft Lessor Policy Claims
In a highly anticipated ruling, the English High Court concluded that AerCap Ireland Limited and other lenders who lost aircraft
Jul/Aug 2024
Celestial Aviation Services Ltd. v. UniCredit Bank GmbH, London Branch [2024]
English Court of Appeal (Civil Division) reversed trial judgments in favour of standby beneficiaries.
DCW Updates
English Court Reverses Celestial; UniCredit Right to Refuse Payment
In a high profile case involving standby letters of credit issued in connection with aircraft leases to Russian airlines and
DCW Updates
Court Rules Ukraine, Not England, Right Venue for Aircraft Disputes
England and Wales’ High Court of Justice has determined that legal proceedings between aircraft leasing companies and insurers over aircraft