The Mauritius Commercial Bank Limited v Jade Petroleum Limited & 3 others
The court awarded MCB USD 6.5 million against Jade Petroleum only, holding subrogation supported reimbursement, but the guarantors were not liable without proof of contractual demand.
- Subrogation
- Guarantee-and-indemnity
- Standby-letters-of-credit
- Limitation-of-actions
- Frustration
- Fundamental-variation