11 Jun 2004
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. v. BANK OF CHINA
- Citation
- COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. v. BANK OF CHINA
- Court
- Court of First Instance
- Case number
- HCCL56/2001
Court held that on the face of the documents the Certificate of Origin was not discrepant and the initial rejection notice was defective under UCP 500; however the plaintiff failed to prove it had negotiated the documents (it acted as a collecting/lender to the beneficiary) and the proper law/place of performance of the credit was China (Zhejiang), where PRC court injunctions rendered performance illegal; accordingly the plaintiff's claim was dismissed.