The Court of Appeal found a confirming bank to be in breach of contract by declining to make payment under a confirmation to a letter of credit on the basis that a sanctions prohibition applied....more
11/30/2023
/ Appeals ,
Banking Sector ,
Banks ,
Breach of Contract ,
Dubai ,
EU ,
Financial Institutions ,
JPMorgan Chase ,
Letter of Credit ,
Sanction Violations ,
Sanctions ,
Singapore
The Singapore High Court considered a round trip sale-and-buyback transaction paid using a letter of credit facility in UniCredit Bank AG v Glencore Singapore Pte Ltd [2022] SGHC 263....more
In Re Kobian Pte Ltd the Singapore High Court, for the first time, exercised its discretion to decide that a scheme of arrangement proposal put forward by a company was not feasible and ultimately did not grant the scheme...more
The Monetary Authority of Singapore (MAS) has issued three new consultations each dealing with different aspects of the regulation of digital payment tokens (DPTs) under the Payment Services Act (PSA). It has also recently...more