Case from China's Jiangsu High People’s Court involving issuing bank suing carrier for compensation for carrier’s release of cargo against applicant’s letter of indemnity in lieu of original bill of lading contains important lessons for banks.
With the causation defence being increasingly engaged in misdelivery cases, there is a great deal for banks and shipowners to learn from The “Maersk Katalin” case.
Case deals with bill of lading consigned to order without naming a person to whose order it was consigned and party which bears the risk of delivery without having taken up the bill of lading.
