Double Trouble – Appeal in Relation to Competing Arbitration Agreements
This unusual case involved a successful appeal of a GAFTA arbitral award under sections 67, 68 and 69 of the Arbitration Act 1996.
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Common sense prevails – Circular trades deemed not inherently fraudulent
This dispute is a further addition to a series of recent cases in which lenders have attempted to resist making payment, or sought recovery of payments made, under letters of credit, on the purported basis that the underlying contracts are fraudulent in nature.
Nullity Exception – Time for Reappraisal?
This article examines the recent judgment of the Singapore Court of Appeal on the Nullity Exception that might also avail the banks. We consider whether it deserves another look or if it is time to close it down completely.
Fraud: neither mindful nor demure
This article discusses the Singapore Court of Appeal’s recent decision to dismiss a claim against two banks for non-payment under letters of credit. This judgment provides commercial parties with further clarity on the fraud exception, in particular what will constitute a false representation under presenting documents.
Compensation, Mitigation and the GAFTA Default Clause
In this article, Archit Dhir and Alex McCue discuss the recent UK Supreme Court decision in Sharp Corp Ltd v Viterra BV on the measure of damages under the GAFTA default clause.
WFW advises Shell on new structured trading agreement with Yü Energy
The structured trading arrangement replaces Yü Energy’s previous facility.
False representations in letters of credit: Key developments in Singapore
In this article, the Singapore Dispute Resolution team discusses recent case law developments in banks’ obligation to make payment under letters of credit, where such obligation is tainted by false and/or fraudulent representations made by the beneficiary.
Commercial Disputes Weekly – Issue 127
A quartet of interpretation cases this week: Commercial Disputes Weekly covers decisions by the Court of Appeal on rent cesser clauses during the pandemic and the requirements for rent repayment orders, and the Commercial Court looks at a commodities sale and purchase agreement and decisions of an arbitral tribunal and judge.
Commercial Disputes Weekly – Issue 109
Commodities disputes have kept the courts busy this week and allowed the first reported decision on the implied term that insurers will pay claims within a reasonable period. Commercial Disputes Weekly also looks at a Supreme Court decision on the Housing Act 1985 and a case of enforcement of personal guarantees.
Commercial Disputes Weekly – Issue 107
In Commercial Dispute Weekly Issue 107, the cases address some contractual basics; offer and acceptance, jurisdiction clauses and quantification of damages for breach. We also look at a decision highlighting the often difficult issue of when litigation privilege begins.
