7 Dec 2010
SWISS SINGAPORE OVERSEAS ENTERPRISES PTE LTD v. CHINA CITIC BANK CORPORATION LTD, XIAMEN BRANCH
- Citation
- SWISS SINGAPORE OVERSEAS ENTERPRISES PTE LTD v. CHINA CITIC BANK CORPORATION LTD, XIAMEN BRANCH
- Court
- Court of Appeal
- Case number
- CACV122/2010
The Court of Appeal set aside the summary judgment because there was a real triable issue: the 22 September message and the defendant's subsequent payment and release of documents could reasonably be interpreted as the plaintiff accepting US$5,122,240 in satisfaction, and the defendant acted to its detriment such that it was entitled to raise a defence. Given those disputed facts and legal issues about the effect of MT752 and subsequent SWIFT messages under UCP 600, leave to defend was warranted.