As featured in Global Trade Review A wave of force majeure declarations across the Middle
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Middle East Disruption: FM Strategies
As vessels hesitate and cargoes fail to move, a familiar pattern emerges across commodity markets

As vessels hesitate and cargoes fail to move, a familiar pattern emerges across commodity markets
With the recent announcement of a ceasefire, our Managing Director, Baldev Bhinder, shared his views as to whether the notion of a ceasefire will affect force majeure claims connected to the Iranian conflict. Even with a ceasefire, the lingering effect of the disruption will continue as lifting of cargo involves an integrated supply chain from vessel nomination, berthing and supply allocation. A focus on the “event” often overlooks the operative aspects of a Force Majeure cause – whether a party has been prevented by performing.
As featured in Global Trade Review A wave of force majeure declarations across the Middle
READ FULL ARTICLE →The Asia Legal Business SE Law Awards will take place in May 2026, and we
READ FULL ARTICLE →As featured on CNBC The potential closure of the Strait of Hormuz has raised immediate
READ FULL ARTICLE →As featured in The Business Times The Iran conflict has created what many are calling
READ FULL ARTICLE →This article was originally published in Trade Treasury Payments As disruption across commodity markets intensifies,
READ FULL ARTICLE →After years of investigating trade fraud, our MD, have distilled it down to three core
READ FULL ARTICLE →Our Managing Director, Baldev Bhinder, was recently invited as a speaker at Aon’s credit-focused event.
READ FULL ARTICLE →Blackstone & Gold is recognised in the Chambers Asia-Pacific 2026 Guide for its Corporate Investigations
READ FULL ARTICLE →As featured in Global Trade Review A wave of force majeure declarations across the Middle East has disrupted oil and LNG supply chains, following attacks on infrastructure and shipping routes. The immediate reaction in the market has been declarations of force majeure up and down the supply chain, without a correct understanding as to its applicability. Force majeure is not contagious. The fact that an upstream supplier has declared force majeure does not automatically excuse downstream performance. Each contract must be assessed on its own terms. “It’s not sufficient to simply say my supplier has declared force majeure… and my supplier’s force majeure is my force majeure. That is a slippery and costly position to take, I think, if it was to go into arbitration.” Where the Risk Lies Three issues will define how this plays out: 1. Prevention, not inconvenience Higher costs, delays or difficulty do not meet the threshold. Performance must be genuinely prevented. 2. Mitigation will be scrutinised Parties must show they have taken reasonable steps — alternative cargo, vessels, routes. Simply relaying a notice will not suffice. 3. Contract mechanics still apply Notice requirements, timing and procedural compliance remain critical. Missteps here can invalidate a claim. Key Takeaway While supply disruption might fall like dominoes, force majeure claims might not do so. Establishing how the event has affected your performance, and what steps you took to mitigate will be essential. “A laid-back, nonchalant attitude of ‘my supplier’s passed me a force majeure notice

This article was originally published in Trade Treasury Payments As disruption across commodity markets intensifies, force majeure is increasingly being relied on as a default
As featured in The Business Times The Iran conflict has created what many are calling
READ FULL ARTICLE →This article was originally published in Trade Treasury Payments As disruption across commodity markets intensifies,
READ FULL ARTICLE →After years of investigating trade fraud, our MD, have distilled it down to three core
READ FULL ARTICLE →Our Managing Director, Baldev Bhinder, was recently invited as a speaker at Aon’s credit-focused event.
READ FULL ARTICLE →In Part 3 of our International Trade Series, we talk about the hot topic of
READ FULL ARTICLE →As featured in Trade Treasury Payments The BCP v China Aviation Oil case raises a
READ FULL ARTICLE →As featured in Global Trade Review More than 25 years after their introduction, electronic bills
READ FULL ARTICLE →The recent collapse of invoice financing company Stenn, once valued at close to 1 billion
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The Asia Legal Business SE Law Awards will take place in May 2026, and we are pleased to be shortlisted in two categories: Dispute Resolution and International Arbitration.

The Asia Legal Business SE Law Awards will take place in May 2026, and we are pleased to be shortlisted in two categories: Dispute Resolution
Blackstone & Gold is recognised in the Chambers Asia-Pacific 2026 Guide for its Corporate Investigations
READ FULL ARTICLE →We’re thrilled to share that we’ve been honored as the “Boutique Firm of the Year”
READ FULL ARTICLE →BG is delighted to announce that it has once again been selected as finalists for
READ FULL ARTICLE →The Singapore Court clarifies the role and interplay of trust receipts in trade finance, while
READ FULL ARTICLE →We are delighted to announce our recent success at the Asian Legal Business Awards 2024.
READ FULL ARTICLE →The month of May has brought the news of awards in the legal market. We
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In this webinar, we cover two recent cases touching on whether a bank is required to make payment under a letter of credit: Winson Oil Trading Pte Ltd v Oversea-Chinese Banking Corporation and another [2023] SGHC 220 and Credit Agricole Singapore Branch v PPT Trading Energy Co. Ltd [2023] SGCA(I) 7 Who should bear the risk of fraud in a commodities trade to be paid by letter of credit? The LC issuing bank or the reckless beneficiary making representations to the bank about the trade it seeks payment for without regard to the truth or falsity of its statements to the bank and the documents it presents? Can the LC applicant’s fraud entitle a bank to decline payment under an LC? These themes have been explored recently by our courts as the meltdown of traders like Hin Leong and Zenrock led banks to contend with LC claims in respect of trades with questionable features.

As featured on CNBC The potential closure of the Strait of Hormuz has raised immediate concerns across global energy and commodities markets with broad assertions
The Financial Times has put together an impressive list of speakers for this year’s Commodities Asia Summit
READ FULL ARTICLE →With the recent announcement of a ceasefire, our Managing Director, Baldev Bhinder, shared his views as to whether the notion of a ceasefire will affect force majeure claims connected to the Iranian conflict. Even with a ceasefire, the lingering effect of the disruption will continue as lifting of cargo involves an integrated supply chain from vessel nomination, berthing and supply allocation. A focus on the “event” often overlooks the operative aspects of a Force Majeure cause – whether a party has been prevented by performing.
With the recent announcement of a ceasefire, our Managing Director, Baldev Bhinder, shared his views as to whether the notion of a ceasefire will affect
As featured on CNBC The potential closure of the Strait of Hormuz has raised immediate
READ FULL ARTICLE →Baldev Bhinder spoke at the Financial Times Asia Commodities Summit held on 3 & 4
READ FULL ARTICLE →In this episode of our International Trade Series, we discuss the how letters of credit
READ FULL ARTICLE →Baldev Bhinder speaks at GTR Asia 2025 in how trade finance structures are vulnerable to
READ FULL ARTICLE →Our MD, Baldev Bhinder, discuss the murky world of invoice financing fraud and how to
READ FULL ARTICLE →As featured in CNBC WTO: The Missing Referee in Trade Wars Amid escalating global trade
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