Alternative Power Solution Ltd v Central Electricity Board and another – WLR Daily

Posted January 14th, 2015 in fraud, injunctions, law reports, letters of credit, Privy Council by tracey

Alternative Power Solution Ltd v Central Electricity Board and another; [2014] UKPC 31; [2015] WLR (D) 3

‘The test for the grant of an interlocutory injunction to prevent payment under an irrevocable letter of credit on the grounds of fraud was whether it was seriously arguable that, on the material available, the only realistic inference was that (i) the beneficiary could not honestly have believed in the validity of its demands under the letter of credit, and (ii) the bank had been aware of such fraud.’

WLR Daily, 9th September 2014

Source: www.iclr.co.uk

Lancore Services Ltd v Barclays Bank plc – WLR Daily

Posted July 2nd, 2008 in banking, law reports, letters of credit by sally

Lancore Services Ltd v Barclays Bank plc [2008] EWHC 1264 (Ch); [2008] WLR (D) 214

“The implication of a temporal limitation upon the right of a merchant acquirer to withhold payment to a merchant for goods and services provided by a third party was not permissible and would go far beyond any acceptable process of implication or construction.”

WLR Daily, 1st July 2008

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.