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601 results found
HFW | United Kingdom | 18 May 2023
Supreme Court clarifies situs of debts represented by Letters of Credit
In a judgment given on Wednesday 25 October 2017 the Supreme Court has overturned the Power Curber decision and has held that there is no special…
Shook Lin & Bok | Singapore | 9 Jan 2023
Further Developments in the Law on Letters of Credit
The Singapore High Court's recent decision in UniCredit Bank AG v Glencore Singapore Pte Ltd is the latest in a series of cases concerning claims by…
Reed Smith LLP | Singapore | 1 Nov 2022
Singapore High Court upholds Glencore's right to payment under LC
The Singapore High Court has affirmed a number of key principles relating to (i) circular commodity sales transactions (including simultaneous sale…
Amereller | Africa, Asia-Pacific, Middle East | 15 Aug 2022
Sounding the Alarm for Letter of Credit Challenges
Companies trading in the Middle East, Africa and Asia are increasingly facing collection problems concerning letters of credit (LCs), the longstanding…
Kesikli Law Firm | Turkey | 19 Oct 2021
Letters of Credit: UCP 600 and Turkish Law Aspects
Letter of Credit (L/C), also known as “documentary credit”, is an independent payment method widely used in international trade.
Gowling WLG | Canada | 9 Feb 2021
Bankrupt tenant: Can a landlord draw on a letter of credit after the trustee disclaims the lease?
In 7636156 Canada Inc. (Re), the Ontario Court of Appeal ("OCA") confirmed the right of a commercial landlord to draw on a letter of credit given…
HERDEM Attorneys at Law | Turkey | 30 Mar 2020
COVID-19: Letter of Credits in the Wake of Covid-19 Pandemic in Turkey
The discrepancies in legal systems and practices of the courts in international trade bring forth risks for the buyer and seller in terms of…
Aird & Berlis LLP | Aird & McBurney LP | Canada | 13 Feb 2020
Ontario Court Revisits Issue of Landlord Drawing on a Letter of Credit in Excess of BIA Preferred Claim
In 7636156 Canada Inc. v. OMERS Realty Corporation (“7636156 v. OMERS”), the Ontario Superior Court of Justice (Commercial List) (the “Court”) held…
DLA Piper | Hungary | 7 Jan 2020
Miért érdemes akkreditívet alkalmazni a kereskedelmi ügyletek során?
A kereskedelmi ügyletek esetében az áruk gyakran jelentős földrajzi távolságot tesznek meg, ennek következtében térben és időben elválik egymástól az…
ABNR | Indonesia | 22 Mar 2019
New Bank Indonesia regulation on prudential rules for offshore debt and FX-denominated liabilities
Bank Indonesia recently issued an umbrella regulation on the application of prudential norms. As with the now revoked Regulation on Offshore Loans in the Banking Sector (as amended), Regulation 21 stresses the importance of compliance with prudential norms for maintaining macroeconomic and financial system stability. However, while the previous regulation's scope was confined to offshore bank......
