BCC TRADE CREDIT PTY LTD v THERA AGRI CAPITAL NO 2 PTY LTD

[2023] Lloyd's Rep. IR 621

NEW SOUTH WALES SUPREME COURT

Before Justice of Appeal Macfarlan,Justice of Appeal White,Acting Justice of Appeal Basten

Insurance (trade credit) – Assured agreed to finance purchase of commodities using Sharia-compliant Murabaha arrangement – Borrower used sums to purchase different commodities – Murabaha arrangement not followed – Whether insurers liable for bad debt under trade credit policy.