Zenrock
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.
Crédit Agricole Corp. & Inv. Bank, Singapore Branch v. PPT Energy Trading Co. [2023]
The appeal in Zenrock. In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
Fraud: Losses, Losers, and LOIs
Within the recent past, trade finance banks have suffered billions in losses due to fraud. This has obliged many banks to reconsider their role in financing trade flows whilst others have simply abandoned the business. Citing Glencore, Navig8 Armetrine, and Hin Leong
13 common Letter of Credit and Bill of Lading frauds: Revisiting the Solo Industries & Saad Group Trade Finance Frauds
Those who forget the lessons of history are condemned to repeat them. Trade finance frauds are no exception. Lessons from Solo Industries, Credit Agricole v. PPT, and practical advice for trade financiers.
![Crédit Agricole Corp. & Inv. Bank, Singapore Branch v. PPT Energy Trading Co. [2022]](/content/images/size/w30/wordpress/2022/03/Credit-agricole-v-PPT-energy-DCW.jpeg)
Crédit Agricole Corp. & Inv. Bank, Singapore Branch v. PPT Energy Trading Co. [2022]
In a crude oil transaction, a bank issuing an LC accused the buyer of fraud, leading to dishonor of the LC; however, the court ruled in favor of the seller...
LC Issuer Unable to Recover Funds in Singapore “Round-Tripping” Case
In Crédit Agricole Corporate & Investment Bank, Singapore Branch v. PPT Energy Trading Co Ltd [2022] SGHC(I) 1, the
