Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

NATIONAL INFRASTRUCTURE DEVELOPMENT CO LTD v BANCO SANTANDER SA

[2017] 1 Lloyd's Rep. 361

COURT OF APPEAL

Before Lord Justice Longmore,Lord Justice 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.

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