Legal Updates

International Trade – Sanctions and the Sanctity of Documentary Credits

It is a sacrosanct rule of international trade that letters of credit are to be honoured if complying documents are presented in a timely fashion. This time-honoured rule is based on the irrevocable undertaking given by issuing…

Legal Updates

Demurrage Claims – Mitigating the Risks

Introduction The possibility of incurring demurrage is unpredictable even though shipowners know that certain ports are prone to delays probably due to congestion or inadequate port infrastructure and equipment required to discharge cargo…

Legal Updates

Case Law Update: DFM v DFL [2024] SGCA 41

In DFM v DFL [2024] SGCA 41 (“DFM v DFL”) the Singapore Court of Appeal (“CA”) has confirmed that a party to an arbitration may be considered to have acceded to the jurisdiction of the arbitral tribunal for the purposes of an interim…

Legal Updates

Case Update: Vietnam Oil & Gas Group v Joint Stock Company (Power Machines – ZTL, LMZ, Electrosila Energomachexport) [2024] SGHC 244

Recourse to the Singapore Courts for the setting aside of an arbitration award pursuant to s 24(b) of the International Arbitration Act 1994 (the “IAA”) and/or Arts 34(2)(a)(ii) and (iii) of the UNCITRAL Model Law on International Commercial…

Legal Updates

Case Update: Alliance Divine Impex Pte Ltd v Arulappan Tony (DBS Bank Ltd, non-party) [2024] SGHC 227

In its recent decision in Alliance Divine Impex Pte Ltd v Arulappan Tony (DBS Bank Ltd, non-party) [2024] SGHC 227 (“Alliance Divine”), the High Court of Singapore confirmed that a party can obtain bank statements directly from a bank under…

Legal Updates

Case Update: Maybank Singapore Limited v Dynamiq Solution Pte Ltd (Official Receiver, non-party) [2024] SGHC 219

Winding up a debtor company based on its inability to make payment on a statutory demand pursuant to s 125(1)(e) read with s 125(2)(a) of the Insolvency, Restructuring and Dissolution Act 2018 (the “IRDA”) is an option that is frequently…

Legal Updates

Case Update: “Sea Justice” [2024] SGCA 32

“The Singapore Court of Appeal (the “CA”) has made it clear in its recent decision in The “Sea Justice” [2024] SGCA 32 that where admiralty in rem proceedings in Singapore have been stayed on the ground of forum…

Legal Updates

Case Update: Winson Oil Trading Pte Ltd v Oversea-Chinese Banking Corp Ltd and another appeal [2024] SGCA 31

“In its recent decision in Winson Oil Trading Pte Ltd v Oversea-Chinese Banking Corp Ltd [2024] SGCA 31, the Singapore Court of Appeal (“CA”) clarified a key principle of the fraud exception to the payment obligation under letters…