International Trade Series: Fictitious Trades & Letters of Credit

In  BCP V China Aviation Oil, was another letter of credit case in the Singapore courts, this time arising from the collapse of the Zenrock. The bank sought to recover moneys paid under a LC to CAO on the basis of fraudulent representations in the LOI in respect of shipping documents. But unlike the earlier case of Winson Oil, the bank did not succeed. Ramandeep Kaur explains why in this video.