Unjust Enrichment

Newman v. HSBC Bank USA, N.A.

Years after Lessees attempted to cancel LC, they sued Successor Bank for conversion, breach of contract, unjust enrichment, and damages.

Banque De Commerce Et De Placements S.A. v. China Aviation Oil (Singapore) Corp. [2024]

Issuer sued beneficiary alleging sham transaction and breach of warranties; beneficiary and prior sellers lodged indemnification claims.

EFLO Energy v. Devon Energy Corp. [2023]

Bank of China Ltd, Singapore Branch v. BP Singapore Pte Ltd

Bank of China’s fraud lawsuit against BP Singapore over $125M in LC payments tied to non-existent oil survives dismissal. The court found sufficient grounds to proceed on claims of fraud, negligence, and conspiracy—raising the stakes for LC compliance in commodity trades.