BANK OF CREDIT AND COMMERCE HONG KONG LIMITED (IN LIQUIDATION) v OVERSEAS TRADING AND COMPANY (A FIRM)

Read the full judgment text of HCA 010695/1993 on BabelCite. This High Court CFI judgment was delivered on 26 May 1998.

1. The plaintiff issued a writ against the defendant in November 1993 claiming that the defendant requested the plaintiff "to discount and/or negotiate certain documents" pursuant to a letter of credit issued by PT Bank Pacific (PT Bank). The plaintiff alleges that it did this. The agreement between the parties provided that, if the plaintiff was not paid, it could have recourse to the defendant. The plaintiff was not so paid, and seeks that recourse.