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Druces to hold a Breakfast Briefing: Trade finance – a legal update, on 6 December 2017

2017 has seen several judgments of great interest relating to trade finance, letters of credit, fraud and the enforcement of judgments and awards.  In this briefing we will give an overview of these cases and consider what practical lessons can be learned.

The briefing will consider:

  1. Taurus Petroleum v SOMO. Where is the debt owed by the Issuing Bank under a letter of credit located and why does it matter. The Supreme Court over-rules Power Curber.
  2. Sinocore International Co. Ltd v RBRG Trading (UK) Ltd. Forged bills of lading, the Issuing bank refuses to pay and the Beneficiary obtains a CIETAC arbitration award. Will the English Courts enforce the award?
  3. Deutsche Bank v CIMB Bank Berhad. “I told you I paid and I don’t have to prove it” Is that explanation given by the Confirming Bank to the Issuing Bank enough for the UCP?

Who should attend:

Bankers, trade finance professionals and in-house lawyers

Date:

6 December 2017

Time:

8.00am  – Registration and Breakfast
8.30am  – Seminar starts
9:30am  – Seminar close & questions
9:30am  to 10:30am  – Networking and coffee

Location: Druces LLP, Salisbury House, London Wall, London EC2M 5PS

RSVP:

Sofia Elvstrom, Druces LLP