Read the full judgment text of HCCL 000140/1999 on BabelCite. This HCCL judgment was delivered on 22 August 2002.
1. On 12 June 1998 the plaintiff in this case, which I shall refer to as Shanghai Tongji, applied to the Agricultural Bank of China in Shanghai for the issue of a letter of credit in the sum of US$401,620, naming the defendant, Casil Clearing Ltd ("Casil"), as beneficiary. This credit was issued on 17 June, and on 23 June Casil, a Hong Kong company, presented to its bank, Sin Hua Bank, a set of conforming documents which enabled the letter of credit to be negotiated. On 27 June 1998, the proceed
Cites 1 case