Local Guarantor petitioned for rehearing from the Supreme People’s Court of order for Counter Guarantor to terminate payment to Local Guarantor for having committed guarantee fraud and not acting in “good faith”.
Does an NY court have jurisdiction over an Indian collecting bank that is alleged to have violated the URC 522 for neither collecting and remitting funds to pay for shipments?
A chronic concern for banks is when intended LC beneficiaries – often government agencies, municipalities, insurance companies, and other so-called power
