NATIONAL INFRASTRUCTURE DEVELOPMENT CO LTD v BANCO SANTANDER SA

[2017] Lloyd's Rep. Plus 21

COURT OF APPEAL

Before Lord Justice Longmore and Lord Justice Christopher Clarke

Banking – Letter of credit – Bank issuing standby letters of credit in lieu of retention money under construction contract – Bank refusing to honour beneficiary's demands – Beneficiary applying for summary judgment – Test for summary judgment – Whether bank had reasonable prospect of establishing fraud – CPR Part 24.