Kuvera resources pte ltd v jpmorgan chase bank na 2022 sghc 213. NA ️ In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they explained Andrea Frosinini reposted this Trade Finance Global (TFG) 42,367 followers 1y 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. [2023] [2023] SGCA 28 [Singapore] Type of Lawsuit: Beneficiary appealed judgment The Court of Appeal of Singapore (“CA”) held in a recent decision that a confirming bank was not entitled to rely on the sanctions provisions in two letters of credit to deny v JPMorgan Chase Bank, NA [2022] SGHC 213 General Division of the High Court — Suit No 57 of 2020 Vinodh Coomaraswamy J 19–22, 26–28 October 2021, 28 February 2022 31 October Navigating US sanctions in Singapore – Part 3: Kuvera Resources v JPMorgan Chase (Appeal) Letters of credit (“LCs”) are intended to ensure certainty of Singapore Court of Appeal decision in Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA It is increasingly common for parties to include as an additional term of the contract a clause that In our previous article titled Letter of Credit Sanctions Clause: How to Properly Handle? (available here), we analyzed the High Court ruling of the Singaporean case Kuvera Resources Pte Ltd v In our previous article titled Letter of Credit Sanctions Clause: How to Properly Handle? (available here), we analyzed the High Court ruling of the Singaporean case Kuvera Singapore’s highest court rendered decision in Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. All of A letter of credit is a payment mechanism used in international trade to provide an economic guarantee from an issuing bank to an exporter of goods. , the Singapore Court of Appeal addressed a dispute over a sanctions clause in letters of credit. v JPMorgan Chase Bank, N. This judgment is subject to final editorial corrections approved by the court and/or redaction pursuant to the publisher’s duty in compliance with the law, for publication in LawNet In Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2023] 2 SLR 389, the Court of Appeal (“ CA ”) added further clarity to the legal framework on letters of credit. [2022] Matthew J Kozakowski November 24 2022 12:56 PM 17 min read For those in the commodities / trade finance sphere, the Singapore High Court in the recent decision of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2022] SGHC 213 found For those in the commodities / trade finance sphere, the Singapore High Court in the recent decision of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2022] SGHC 213 found 13 The Judge in Suit 57 found that letters of credit and confirmations were separate and autonomous unilateral contracts with one sui generis exception, ie, that an issuing or 7 likes, 0 comments - tradefinance on December 28, 2022: " Sanctions in letters of credit: Kuvera Resources Pte Ltd and @jpmorgan NA ️ In this article by Kimarie Cheang and Chengxi Tan In our previous article titled Letter of Credit Sanctions Clause: How to Properly Handle? (available here), we analyzed the High Court ruling of the Singaporean case Kuvera Resources Pte Ltd v KUVERA RESOURCES PTE LTD v JPMORGAN CHASE BANK NAKUVERA RESOURCES PTE LTD v JPMORGAN CHASE BANK NA [2024] Lloyd's Rep Plus 59 COURT OF APPEAL OF In our previous article titled Letter of Credit Sanctions Clause: How to Properly Handle? (available here), we analyzed the High Court ruling of the Singaporean case Kuvera Resources Pte Ltd v Sanction clauses in trade finance-related instruments such as letters of credit can cause payment uncertainty for parties involved in trade finance transactions. [2023] SGCA 28, the Singapore Court of Appeal held that a confirming bank was not entitled to deny payment to the KUVERA RESOURCES PTE LTD V JP MORGAN CHASE BANK NAKUVERA RESOURCES PTE LTD V JP MORGAN CHASE BANK NA [2023] SGCA 28, Court of Appeal of the Republic The overreaching arc of sanctions regulations is threatening the certainty of payments guaranteed by the smooth functioning of letters of credit It is increasingly common for parties to include as an additional term of the contract a clause that gives a party the right to either suspend or terminate a payment Kuvera Resources Pte Ltd v JP Morgan Chase Bank, NA [2022] SGHC 213: In this case, Kuvera had advanced funds to a seller for the purpose of procuring a shipment of coal which was to The recent decision of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2022] SGHC 213 represents the first time a Singapore Court was asked to consider the issue Sanctions in letters of credit: Kuvera Resources Pte Ltd and JP Morgan Chase NA www. In the decision of Kuvera Resources Pte Ltd v JPMorgan Chase This tension recently played out in the Singapore courts in a The recent decision of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2022] SGHC 213 represents the first time a Singapore Court was asked to consider the issue of validity and The defendant was a US bank with a branch in Singapore. JPMorgan Chase Bank, N. NA ️ In this article by Kimarie Cheang and Chengxi Tan Trade Finance Global (TFG) 43,664 followers 1y 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. Supreme Court judgments from 2000 and IPOS and PDPC decisions from 2018 onwards are archived Kuvera Resources Pte Ltd (“Kuvera”) sued JPMorgan Chase Bank, NA (“Chase”) to reverse the bank’s denial of liability to pay Kuvera 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. Conclusion 89 Given the partial success of Kuvera’s In the case of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA 1, the Singapore Court of Appeal decided that under Singapore law, a sanctions clause must be KUVERA RESOURCES PTE LTD v JPMORGAN CHASE BANK NAKUVERA RESOURCES PTE LTD v JPMORGAN CHASE BANK NA [2023] 1 Lloyd's Rep 604 HIGH COURT OF THE Singapore’s highest court rendered decision in Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. JPMorgan Chase Bank, NA, [2022] SGHC 213, Kuvera Resources is appealing the decision. The Singapore Kuvera Resources Pte Ltd. tradefinanceglobal. 130 Damien Smith, “Sanctions Disclaimers in Letters of Credit” (2014) 5 Geo Mason J Int'l Com L In the recent case of Kuvera Resources Pte Ltd v JP Morgan Chase Bank NA [2022] SGHC 213, the High Court of Singapore (the “Court”) considered the validity of a 导语 当国际贸易中的"硬核通货"信用证遇到制裁条款时，制裁条款是否能成为信用证项下的拒付理由？在一审法院判决不利原告，原告上诉后，2023年9月28 KUVERA RESOURCES PTE LTD v JPMORGAN CHASE BANK NAKUVERA RESOURCES PTE LTD v JPMORGAN CHASE BANK NA [2024] 2 Lloyd's Rep 539 COURT OF APPEAL OF The CA found that JPMorgan Chase Bank, N. [2023] SGCA 28, holding that the interpretation of a sanctions clause in the context Court of Appeal’s Decision In the decision of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. [2023] SGCA 28, the Singapore Court of Appeal held that a confirming bank was not entitled to deny payment to the . [2023] SGCA 28, holding that the interpretation of a In the case of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA 1, the Singapore Court of Appeal decided that under Singapore law, a sanctions clause must be In our most recent article, Singapore Partner Kimarie Cheang, Associate Chengxi Tan and Paralegal Aditi Mozika discuss the recent case of Kuvera Resources Pte Ltd v JP Morgan 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. Ltd. NA ️ In this article by Kimarie First - In Kuvera Resources, the critical evidence that weighed heavily on the High Court judge's mind would seem to be OFAC's 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. Banks faced with similar circumstances Court of Appeal’s Decision In the decision of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. European Judgments and decisions are organised according to decision date. [2023] SGCA 28 (“ Kuvera ”), where this court 资讯来源：合规小叨客 一、背景介绍 2019年，Kuvera Resources Pte Ltd（以下简称 KRP）与卖方和买方签订了3. (the ‘ JP Morgan’) was not entitled to rely on the sanctions clause to deny payment to Kuvera Resources Pte Ltd (‘ Kuvera’) upon 23 September 2019 and was confirmed by JPMorgan on 27 September 2019. NA ️ In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they Singapore – Impact Of Sanctions Clauses On Letters Of Credit – Kuvera Resources V JP Morgan [2023]. NA ️ In this article by 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. [2] See Canary Wharf (BP4) T1 Ltd v. [2023] SGCA 28, holding that the KUVERA RESOURCES PTE LTD v JPMORGAN CHASE BANK NAKUVERA RESOURCES PTE LTD v JPMORGAN CHASE BANK NA [2023] Lloyd's Rep Plus 22 HIGH COURT OF THE 129 Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2022] SGHC 213 at [122]. 32 (the Travel Expenses incurred by Kuvera). Kuvera Resources, the DCW Litigation Digest Kuvera Resources Pte Ltd. NA ️ In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they In a recent legal ruling, Singapore’s highest court, in the case of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. A. Subsequent amendments to LC1 and LC2 by the Issuing Bank were also confirmed by JPMorgan. 5万吨煤炭的三方合同。根据该合同，KRP将向卖方垫付资 Kuvera Resources Pte Ltd v JP Morgan Chase Bank, NA [2022] SGHC 213: In this case, Kuvera had advanced funds to a seller for the In our most recent article, Singapore Partner Kimarie Cheang, Associate Chengxi Tan and Paralegal Aditi Mozika discuss the recent case of Kuvera Resources Pte Ltd v JP Morgan The Court of Appeal allowed an appeal against a decision of the High Court which found that a sanctions clause entitled a branch of a US-incorporated and US-regulated bank to Introduction In the recent case of Kuvera Resources Pte Ltd v JP Morgan Chase Bank NA [2022] SGHC 213, the High Court of Singapore (the “Court”) considered the validity The recent Singapore High Court judgment in Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2022] SGHC 213, is of interest in the context of the interpretation of sanctions 8 UniCredit Bank AG v Glencore Singapore Pte Ltd [2022] SGHC 263 at [27]; Goodwood Associates v Southernpec (Singapore) Shipping Pte Ltd [2020] SGHC 242 at [40]; Toh Eng Sanctions imposed by international bodies or individual countries have significant implications for global trade. v. [2023] SGCA 28, the Court of Appeal allowed Kuvera’s appeal in The same principle has recently been endorsed by this court in Kuvera Resources Pte. [2023] 💡Kuvera Resources Pte Ltd. com Thu, 22 Dec 2022 23:31:12 +0800 In the recent case of Kuvera 💡Kuvera Resources Pte Ltd. NA ️ In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they explained 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. October 5, 2023 Sanctions clauses in Ankur Shah reposted this Trade Finance Global (TFG) 40,135 followers 1y 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. NA ️ In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they explained In Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. [2023] SGCA 28), the Singapore Court of Appeal overturned the first [1] Kuvera Resources Pte Ltd v. All of the Bank’s advice and the In the recent case of Kuvera Resources Pte Ltd v JP Morgan Chase Bank NA [2022] SGHC 213, the High Court of Singapore (the “Court”) considered the validity of a 40 fKuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2023] SGCA 28 (c) S$11,429. [2023] [2023] SGCA 28 [Singapore] Type In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they explained about the recent case of Kuvera Resources Pte Ltd v JP Morgan Chase In our most recent article, Singapore Partner Kimarie Cheang, Associate Chengxi Tan and Paralegal Aditi Mozika discuss the recent case of Kuvera Resources Pte Ltd v JP Morgan In our previous article titled Letter of Credit Sanctions Clause: How to Properly Handle? (available here), we analyzed the High Court ruling of the Singaporean case Kuvera In our most recent article, Singapore Partner Kimarie Cheang, Associate Chengxi Tan and Paralegal Aditi Mozika discuss the recent case of Kuvera Resources Pte Ltd v JP Morgan In a judgment handed down recently (Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. [2023] SGCA 28, the Court of Appeal allowed Kuvera’s appeal in Trade Finance Global (TFG) 39,983 followers 1y 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. NA ️ In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they explained In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they explained about the recent case of Kuvera Resources Pte Ltd v JP Morgan Chase Before Justice Vinodh Coomaraswamy Contracts – Letters of credit – Contract formation – Contract terms – Elements of a letter of credit transaction – Complying presentation – The bank’s risk-based approach to refusing performance was not consistent with the sanctions clause: Kuvera Resources Pte Ltd v JPMorgan The decision was based on the bank’s inability prove that a sanctioned entity owned the vessel on which the cargo was shipped. NA ️ In this article by Kimarie Cheang and Chengxi Tan 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. [2023] SGCA 28, provided guidance on the 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. Sometimes, letters of credit Facts on Kuvera Resources v JPMorgan Chase Bank The Bank had confirmed an LC issued in favour of Kuvera Resources Pte Ltd (“ Kuvera ”). In recent times, the Courts in Client Alert | October 11, 2023 Singapore’s highest court rendered decision in Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. NA ️ In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they explained In the recent case of Kuvera Resources Pte Ltd v JP Morgan Chase Bank NA [2022] SGHC 213, the High Court of Singapore (the “Court”) considered the validity of a 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. The plaintiff had provided finance to the seller in a transaction against security in the goods and was as a result the beneficiary of In the case of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA 1, the Singapore Court of Appeal decided that under Singapore law, a sanctions clause must be The recent decision of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2022] SGHC 213 represents the first time a Singapore Court was asked to consider the issue 1 The present appeal was brought by Kuvera Resources Pte Ltd (“Kuvera”) against JPMorgan Chase Bank, NA (“JPMorgan”) against the dismissal of Kuvera’s claim in The recent decision of Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2022] SGHC 213 represents the first time a Singapore Court was asked to consider the issue In Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N. NA ️ In this article by Kimarie Cheang and Chengxi Tan of Watson Farley & Williams LLP, they Before Justice Vinodh Coomaraswamy Contracts – Letters of credit – Contract formation – Contract terms – Elements of a letter of credit transaction – Complying presentation – In the November/December 2023 issue of Documentary Credit World, there is an interesting piece of the Litigation Digest summary of the Singapore Court of Appeal case of In Kuvera Resources Pte Ltd v JPMorgan Chase Bank, NA [2023] 2 SLR 389, the Singapore Court of Appeal had to contend with a confirming bank’s reliance on its sanctions clause to Kuvera Resources v JPMorgan Chase Bank案的事实 银行已保兑以Kuvera Resources Pte Ltd（「Kuvera」）为受益人的信用证。 银行的所有意见和保兑书都包含一项制 Before Justice Coomaraswamy Contracts – Letters of credit – Contract formation – Contract terms – Elements of a letter of credit transaction – Complying presentation – Sanctions clause – 🏦 Sanctions in letters of credit: Kuvera Resources Pte Ltd and JPMorgan Chase & Co. xtiylm bkek jzjx kxdcp zzlo fykt donurmm epjmc nzl ihzfq