July / August 2024
US UCC Article 5’s Non-Variable Provisions
How UCC Article 5 governs letters of credit in the US, its non-variable provisions, and the legal nuances that affect issuers and beneficiaries.
![Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2024]](/content/images/size/w30/2024/08/pacific-atlantic-pipeline-case-summary-dcw.jpeg)
Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2024]
Canada's Court of Appeal of Alberta affirmed trial judgment, dismissing LC Applicant's appeal and terminating short term interim injunction.
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.
![Eurobank Ergasias S.A. v. Bombardier Inc. [2024]](/content/images/size/w30/2024/08/eurobank-v-bombadier-court-case-dcw.jpeg)
Eurobank Ergasias S.A. v. Bombardier Inc. [2024]
The Canadian Supreme Court affirmed Quebec appellate and trial courts, upholding permanent injunction restraining Counter-Guarantor against payment of demand by Counter-Guarantee Beneficiary.
![Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2023]](/content/images/size/w30/2024/08/pacific-atlantic-pipeline-case-2023.jpeg)
Pacific Atlantic Pipeline Construction Inc. v. Coastal Gaslink Ltd. [2023]
Canada's Court of King’s Bench of Alberta denied injunction application of LC Applicant who sought to enjoin Beneficiary demand on standby LC.
2024 Singapore Annual LC Survey • Executive Summary
This Executive Summary provides an overview of topics discussed and debated by leading professionals at the conference.
LC Statistics: 1Q24 US Bank LC Issuance
DCW reports quarterly LC issuance statistics from the top 600 banks headquartered in the U.S.
ICC Opinions Finalized at July 2024 Session
Five draft opinions – some garnering much more attention than others – were finalized in an ICC Banking Commission quarterly discussion session
ICC Banking Commission: AI in Opinion Analysis and Updates on ISBP Review
Following the discussion of ICC Opinions on 2 July 2024, updates on other ICC Banking Commission projects were given. ICC
Latest ICC Briefing Paper on UCP600 Practice Addresses Amendments
In an attempt to clarify aspects of UCP600 Article 10, the ICC Banking Commission has issued its 10th Technical Advisory
US Attorney Informed of Pending Motion Regarding International Sanctions
Upon request of its customer, Lummus Technology Heat Transfer B.V., Credit Agricole Corporate & Investment Bank issued a letter
EU Adopts New Round of Sanctions Directed at Russia
On 24 June 2024, the European Union adopted its 14th round of sanctions (EU Regulation 2024/1745), amending EU Regulation
