Peter, assisted by Andrew, acted for a Singapore mainboard listed company engaged in the ownership and chartering of offshore vessels and rigs, against a Mexican credit company involving a dispute over the call on standby letters of credit amounting to approximately USD 9 million issued pursuant to a charterparty agreement. As part of the proceedings, Peter’s client obtained an injunction against the Mexican credit company preventing it from calling for payment under the said letters of credit on the basis that this amounted to bad faith. The case was eventually settled favourably for the client.
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