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Legal Update

UK Supreme Court provides important principles for the enforcement of funds payable under letters of credit

January 2018
Mayer Brown Legal Update
The recent case of Taurus Petroleum Ltd v State Oil Marketing Company of the Ministry of Oil, Iraq concerns the attempt of a party to enforce its arbitral award by seeking to rely on letters of credit provided by a bank to the other party (who had refused to pay the arbitral award).

Authors

  • Alistair Graham
    T +44 20 3130 3800
  • Robert Hobson
    Associate
    T +44 20 3130 3986
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