11 Dec 1985
CIC-UNION EUROPEENNE INTERNATIONAL ET CIE v. WING SUN AND CO AND ANOTHER
- Citation
- CIC-UNION EUROPEENNE INTERNATIONAL ET CIE v. WING SUN AND CO AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA6698/1985
The interlocutory injunctions were discharged because the plaintiff lacked a proper cause of action in the absence of Panther (the holder of legal title) and, on the merits, the issuing/negotiating bank was obliged to honor and remit under the irrevocable letter of credit absent fraud or prior knowledge of the pledge; therefore defendants were entitled to have the injunctions lifted and payment under the credit to proceed.