United Kingdom

Glencore Energy UK Ltd v Cirrus Oil Services Ltd

[2014] EWHC 87 (Comm)

JurisdictionUnited Kingdom

CourtHigh Court of England and Wales (Commercial Court)

Year2014

StatusPersuasive authority

Key Principle

The court applied the principles of documentary credit in commodity trade; the autonomy of documentary credits means the bank must pay against conforming documents regardless of disputes in the underlying contract.

Area of Law

shipping

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