Commercial LCs

Payra Thermal Power Plant in Bangladesh Resumes Production After Coal Shortage

Bangladesh’s largest power plant has resumed production on 25 June 2023 after a 20-day hiatus caused by a

OFAC Sanctions 4 Entities for Aiding Sudanese Conflict

On 1 June 2023, the US Treasury’s Office of Foreign Assets Control (OFAC) designated for sanctions controls four companies

LC Issuances Drop to 32-Month Low in Bangladesh

Multiple factors have contributed to a continuing precipitous fall in the value of LCs opened and settled in Bangladesh. According

ICIEC Reaches Credit Insurance Policy Deal with Saudi EXIM Bank

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a segment of the Islamic Development Bank (IsDB)

Standard Chartered Bank (Singapore) Ltd. v. Maersk Tankers Singapore Pte. Ltd. [2022]

Beneficiary Lodged Creditor's petition against insolvent Non-Bank Issuer alleging wrongful dishonour.

LC Implications from the Fallout of the SVB, Signature Bank Failures

The abrupt mid-March 2023 closures of Silicon Valley Bank (SVB) and Signature Bank sent shockwaves through the US banking

Pakistan Prioritizes LCs for Tea

In advance of Ramadan 2023, the Pakistan government listed tea as an essential commodity in order to meet high domestic demand for tea, and the government ordered State Bank of Pakistan to issue mandatory instructions for banks to open letters of credit for tea, declaring tea a ‘primary import’.

Windsor Township v. Tompkins Financial Corp. [2021]

Developer Greth Development secured a letter of credit from Tompkins Financial to ensure completion of a townhouse project for Windsor Township. After project delays and a breach, Windsor sued the developer and demanded payment from Tompkins, who refused.

Bangladesh’s  Misinvoicing Problem

No country has greater reliance on letters of credit than Bangladesh so it is reasonable to surmise that reports in

GVC Ltd. v. Valley National Bank [2022]