Trafigura Beheer BV v Kookmin Bank Co [2006] EWHC 1921 (Comm) (27 July 2006)

Source-derived case information.

Citation: [2006] EWHC 1921 (Comm)
Parties: Claimant: Trafigura Beheer BV; Defendant: Kookmin Bank Co
Jurisdiction: England and Wales
Judgment Date: 27 July 2006
Procedural Posture: Commercial Court Claim and Application for Post Trial Anti Suit Injunction / Judgment on Application for Anti Suit Injunction Following Prior Substantive and Preliminary Issue Judgments
Outcome: Anti-suit injunction granted
Legal Topics: Anti Suit Injunctions, Letters of Credit, Conflict of Laws, Jurisdiction, Tort Claims in International Trade, Fraudulent Misrepresentation, Restitution, Conversion, Contract Interpretation

Private International Law Commercial Law Banking Law Anti Suit Injunctions Letters of Credit Conflict of Laws Jurisdiction Tort Claims in International Trade +4 more

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Parties

Trafigura Beheer BV

Claimant

Kookmin Bank Co

Defendant

Procedural Posture

Commercial Court Claim and Application for Post Trial Anti Suit Injunction / Judgment on Application for Anti Suit Injunction Following Prior Substantive and Preliminary Issue Judgments

Legal Issues

1 Whether the English court should grant a post-trial anti-suit injunction restraining Kookmin Bank from pursuing proceedings in Korea against Trafigura regarding a letter of credit transaction
2 Whether Kookmin's claims in Korea are premised on breach of contract or independent tort under Korean law
3 What law governs the letter of credit and related tort claims

Ratio Decidendi

The English court granted a post-trial anti-suit injunction restraining Kookmin Bank from continuing the Korean proceedings. The court found that the letter of credit and related contracts were governed by English law, that Kookmin's claims in Korea were fundamentally premised on alleged breaches of the letter of credit, and that all such claims had been determined as hopeless or unmeritorious under English law. The continuation of the Korean proceedings was held to be vexatious and unjust, and the English court had a strong legitimate interest in protecting its proceedings and judgments.

Court Disposition

Anti-suit injunction granted

Orders

Kookmin Bank is restrained from continuing the Korean proceedings against Trafigura in respect of the claims determined by the English court
Kookmin Bank is restrained from introducing any new claims in Korea arising out of the letter of credit transaction that are inconsistent with the English court's determinations

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