STANDARD BANK LONDON LTD. v. THE BANK OF TOKYO LTD. SUDWESTDEUTSCHE LANDESBANK GIROZENTRALE v. THE BANK OF TOKYO LTD. AND STANDARD BANK LONDON LTD.

[1995] 2 Lloyd's Rep. 169

QUEENS’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Waller

Banking - Letters of credit - Tested telexes - Fraudulent tested telexes sent to beneficiaries - Whether telexes sent with actual or apparent authority of sender - Whether beneficiaries entitled to rely on tested telexes as genuine - Whether underlying transaction should have been investigated - Whether conforming documents presented under letters of credit - Whether beneficiaries entitled to damages.