Standby LC

ERA Capital L.P. v. Soleil Chartered Bank [2023 No. 651984]

Broadband Providers Push Back against US Gov LC Requirement

A coalition of internet service providers, broadband associations, and digital equity advocates in the US are challenging a requirement that applicants for federal broadband funding must furnish a letter of credit in order to receive funds.

Strabag, SpA v. Credit Agricole CIB [2023]

Three Sentenced to Prison in Standby LC Scam

Roy Johannes Gillar of Las Vegas, Harold Mignott of Voorhees, New Jersey, and Jerrid Douglas, of Freehold, New Jersey received prison sentences of six years, three years, and 45 months respectively, for their actions in a USD 1 million “upfront-fee” scheme which defrauded victims.

Manatee County (Florida) Defrauded of USD 1.4 Million

A Georgia (USA) man was arrested by detectives of the Manatee County (Florida) Sheriff’s Office and charged with Scheme to Defraud and Money Laundering and detectives have issued an arrest warrant for another Georgia man on charges of Scheme to Defraud and Conspiracy.

EFLO Energy v. Devon Energy Corp. [2023]

Glacier Bear Retreat, LLC v. Dusek [2023]

EU Maintains Capital Requirements for Performance-Related Trade Products

this has links to Feb 2023 DCW item on EU capital requirements

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

Sudan Situation “Extremely Grave”

According to DCW sources, continued fighting between warring forces in Sudan has rendered the situation extremely grave for civilians and

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