Read the full judgment text of HCCL 000304/1998 on BabelCite. This HCCL judgment was delivered on 8 September 2000.
1. This is a commercial dispute between two banks. It is also a dispute which in my view ought never to have seen the light of day, far less have been driven to court. The question at issue is whether the defendant, ICBC, should be required to reimburse the plaintiff, Nedcor, consequent upon the negotiation and payment by Nedcor of a draft drawn on ICBC under a letter of credit issued by a branch of ICBC in Shantou, China.