MANNESMAN HANDEL A.G. v. KAUNLARAN SHIPPING CORPORATION AND OTHERS (THIRD PARTIES)

[1993] 1 Lloyd's Rep. 89

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Saville

Banking - Letter of credit - Sale of goods of Russian origin to Chinese buyers - Difficulties in trade between Russia and China - Letter of credit issued by Swiss bank - Documents falsely describing origin of goods issued to knowledge of Swiss bank - Documents presented did not conform with requirements of letter of credit - Whether Swiss bank legally obliged to make payment against documents.