A company which received USD 231,000 from a client but failed to deliver on its promise to arrange a USD 500 million financial guarantee was wound up by a London High Court on 25 November 2025.
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Two Indian banks which lost funds nearly a decade ago from fraudulently obtained letters of credit and non-payment of loans
Views on ICC Opinion TA954
Because standbys and demand guarantees often contain automatic extension clauses, ICC Opinion TA954 offers important lessons for practice and the need for sound drafting of such clauses.
