Searching Content indexed under Finance and Banking by Ince & Co ordered by Published Date Descending.
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Financing Bank Liable For Demurrage As Intermediate Holder Of Bills Of Lading
The new switch bill incorporated the charterparty arbitration clause.
25 Oct 2018
Unprofitable Contracts In A Volatile Market – Is There Any Escape?
In June 2014, Brent Crude Oil was trading at prices of around US$115 per barrel, with average prices having remained in triple digits for most of the preceding three years.
29 Jan 2015
Acceleration Without Due Care May Lead To A Bumpy Ride
A recent South African decision serves as a valuable reminder of the care that should be taken when exercising a right of acceleration.
25 Apr 2014
Force Majeure, Foreseeability And FOB Incoterms
Ince & Co recently represented Vitol Asia and Vitol S.A. before the Court of Appeal in the matter of the Crudesky.
29 Oct 2013
Letters Of Credit – Strict Compliance And The Use Of Banking "Shorthand"
A fundamental principle underlining the use of a letter of credit as a means of payment security is that the documents presented under the LC must strictly comply with the requirements of the LC in order for the issuing bank to make payment.
25 Sep 2013
Does A Dishonouring LC Bank Have Title To Sue Under An Indorsed Bill Of Lading?
On one level, this case concerns a technical issue in relation to the application of s.5(2)(b) of the Carriage of Goods by Sea Act 1992 ("COGSA 1992"), in particular, the circumstances in which "a person with possession of the bill as a result of the completion, by delivery of the bill, of any indorsement of the bill" has title to sue under a bill of lading.
18 Sep 2013
The Relevance Of Market Expert Evidence In Determining Whether A Deal Has Been Done
In this case, in the context of an application for summary judgment, the Commercial Court considered whether or not there was a real issue to be tried as to whether a binding contract had been concluded between the parties, based on a review of their negotiations.
26 Mar 2013
Libor, Euribor – What, When, Where And How?
The storm surrounding the manipulation of Libor rates by some of the world’s leading banks has been brewing largely unnoticed since 2005.
5 Jul 2012
Ship-Owners Under No Duty In Bailment To Complete The Original Voyage Following Termination Of Time Charter
In this case, the High Court of Hong Kong was asked to determine whether the ship-owners were under any duty in bailment to complete the original voyage and deliver cargo following withdrawal of the vessel by the ship-owners part way through a voyage for non-payment of hire.
12 Jan 2012
Shari'a Compliant Methods For The Financing Of Ships
Following the virtual economic meltdown in 2007/8, the banking system teetered on the brink of collapse and the period of prolonged economic growth ended with a bang.
4 Aug 2011
Letters Of Credit: Issuing Bank's Limited Liability As Consignee Under The Bills Of Lading
This Commercial Court decision is the latest in a line of judgments from the English courts dealing with various disputes arising out of five letters of credit that were opened by the Indian Overseas Bank at the request of an Indian government-owned company, MSTC, whose role includes assisting Indian companies to purchase steel scrap from abroad.
9 May 2011
Can You Apply For A Freezing Injunction When The Claim Is Subject To FOSFA Arbitration?
In the recent case of B v S, the court considered the nature and effect of Scott v Avery clauses, which provide that an arbitration award is a condition precedent to the right to bring any court action.
18 Apr 2011
Mortgage Enforcement: HK Court Sale Update
The current difficulties in the shipping markets have re-focussed attention on mortgage enforcement.
Hong Kong
23 Sep 2010
Mortgagee Protection and Enforcement in Hong Kong
The Hong Kong Shipping Register is currently one of the top registers in the world and has attracted significant international tonnage.
Hong Kong
23 Sep 2010
Rights of the Mortgagee of a Vessel and General Information as to Arrest in China
According to the Regulations of the PRC on ship registration, a vessel’s port of registry should be chosen by a shipowner depending on the proximity of the port of registry to its place of registration or principal place of business.
22 Sep 2010
Sugar Trader Found In Breach Of Obligation To Meet Margin Call
Sucden, a futures and options broker, was one of a number of brokers acting on behalf of Fluxo-Cane, a company trading in physical sugar and also sugar derivatives on New York’s ICE Exchange, a futures and options market.
16 Sep 2010
Implied Obligation Under Article 16(F) of UCP 600 to Return Rejected Documents Reasonably Promptly
In our International Trade and Commodities Legal Update February 2010, we reported that the beneficiaries under five letters of credit (L/Cs) issued by Indian Overseas Bank ("IOB") had succeeded in defeating all save one of IOB’s defences based on alleged documentary discrepancies under the L/Cs.
12 May 2010
Sharia Law: Non-Compliance and Enforceability of Contracts Governed by English Law
Few cases involving Islamic Finance contracts have come before the English Courts, but where they have the Courts have traditionally been reluctant to examine issues of Sharia compliance when looking at the enforceability of an English law contract.
20 Apr 2010
Koehler - New York Court Confirms The Availability Of A Powerful Remedy For Judgment Creditors
The New York Court of Appeals held on 4 June 2009 by a close 4-3 majority that courts in New York have the power to order banks to turn over assets held on behalf of their customers – including those held outside of New York – to creditors with court judgments or arbitration awards converted into judgments.
United States
14 Jan 2010
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