Fortis Bank SA/NV and Anr v Indian Overseas Bank (No 2) - QBD (Com Ct)(Jonathan Hirst QC sitting as a Deputy Judge of the High Court) - 29 March 2011

Documentary credits - Issuing bank refusing to pay sellers under letters of credit - Sellers incurring liability to carriers in respect of port storage costs and container demurrage charges - Whether sellers entitled to recover charges from bank as damages for breach of contract or by way of restitution

(2011) 819 LMLN 3

Documentary Credits

Fortis Bank SA/NV and Anr v Indian Overseas Bank - Court of Appeal (Arden, Thomas and Etherton LJJ) - 31 January 2011

Documentary credits - Issuing bank refusing to pay under letters of credit - Whether documents complied with contract - Whether issuing bank precluded from relying on discrepancies - Whether issuing bank failed to return documents with reasonable promptness

(2011) 815 LMLN 1

Documentary Credits

BCM Electronics Corporations Sdn Bhd v LaSalle Bank NA and Anr – US District Court (ND Illinois ED) (Wayne R Anderson DJ) – 22 March 2006

Documentary credits – Letter of credit – Whether wrongful dishonour – Discrepancies – Waiver – Estoppel – Whether presentations complied with terms of letter of credit

(2007) 708 LMLN 3(2)

Documentary Credits

Standard Chartered Bank v Pakistan National Shipping Corporation and Ors (The ‘Lalazar’) - Court of Appeal (Evans, Aldous and Ward LJJ) - 3 December 1999

Documentary credit - Shipowners and other parties agreeing to ante-date bills of lading to show false date of shipment - Whether defendants liable to confirming bank in deceit and conspiracy - Ex turpi cause non oritur actio

(2000) 530 LMLN 1

Documentary Credits

Regent Corporation USA v Azmat Bangladesh Ltd and Ors - New York Supreme Court, Appellate Division (Sullivan JP; Nardelli, Tom and Mazzarelli JJ) - 2 March 1999

The plaintiff buyers, a New York corporation, agreed to purchase bed sheets and pillow cases from Azmat Bangladesh Ltd, a textile company located in Bangladesh.

Standard Chartered Bank v Pakistan National Shipping Corporation and Ors (The “Lalazar”) - QBD (Com Ct)(Cresswell J) - 1 April 1998

The plaintiff bank (“SCB”) brought proceedings for damages for deceit and/or negligent misrepresentation and/or conspiracy arising out of the tendering of falsely dated bills of lading.

Glencore International AG and Anr v Bank of China (The “Cheng Jen”) - Court of Appeal - 8 November 1995

The first plaintiffs (“Glencore”) were the beneficiaries of two letters of credit (one for 800 metric tons (+/- 2%) and the other for 700 metric tons (+/- 2%) as sellers of a cargo of aluminium ingots.

Glencore International AG and Anr v Bank of China (The “Cheng Jen”) - QBD (Com Ct) (Rix J) - 6 October 1995

The first plaintiffs (“Glencore”) were the beneficiaries of letters of credit as sellers of a cargo of aluminium ingots.

Bank Leumi Le-Israel Ltd. v. M.G. Brin & Sons Ltd. - Supreme Court (Meir Shamgar C.J., Eliezer Goldberg and Theodor Or J.J.) - 31 August 1992

At first instance the district court held that the appellant bank had been negligent in dealing with letters of credit opened on behalf of the respondent companies for the purpose of paying a Hong Kong company for merchandise ordered by them.