DCW Monthly: September 2026
This month's content returns to a question the rules answer clearly and the courts sometimes do not: who
Celestial Aviation
12 articles
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 Conference Report
2023 Americas LC Law Summit: Executive Summary
For the 24th consecutive year, the Institute of International Banking Law & Practice conducted its one-day Americas Letter of Credit Law Summit.
DCW Conference Report
2023 Americas Standby Forum: Executive Summary
For the 17th consecutive year, the Institute of International Banking Law & Practice conducted its Americas Standby & Guarantee Forum on 11 October 2023. This summary provides an overview of topics discussed and debated at the program hosted by Hogan Lovells in New York and held as a hybrid event.
DCW Conference Report
2023 Americas Annual LC Survey • Executive Summary (Part 2)
This Executive Summary provides an overview of topics discussed and debated by leading professionals at Day 2 of the conference.
DCW Articles
To What Extent is a Confirming Bank’s Undertaking Independent of the Issuing Bank’s Undertaking to the Beneficiary?
Editor's Note: This article predates the Court of Appeal's June 2024 decision in Celestial Aviation ([2024]
DCW Conference Report
2023 Americas Annual LC Survey • Executive Summary (Part 1)
For the 31st consecutive year, the Institute of International Banking Law & Practice conducted its Americas Annual LC Survey conference, 8-9 June 2023. This Executive Summary provides an overview of topics discussed and debated by leading professionals at Day 1 of the conference.
DCW Feature
Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch [2023 EWHC 663]
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 663 Type of Lawsuit: Beneficiaries sued Confirming Bank that
DCW Feature
Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch [2023 EWHC 1071]
💡Celestial Aviation Services Ltd. v. Unicredit Bank, London Branch 2023 EWHC 1071 Type of Lawsuit: Subsequent hearing on an ancillary
DCW Updates
Aviation Litigation Takes Off, Aircraft Stranded in Russia
Even in the initial weeks following imposition of sanctions after Russia’s February 2022 invasion of Ukraine, the aviation industry
DCW Updates
Aviation Company Says Bank Wrongfully Dishonored LCs Backing Russian-Leased Planes
Celestial Aviation Services, a subsidiary of Irish-based aircraft leasing giant AerCap, filed a USD 45.8m suit in London