Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

EUROPEAN ASIAN BANK A.G. v. PUNJAB AND SIND BANK

[1982] 2 Lloyd's Rep. 356

COURT OF APPEAL

Before Lord Justice Stephenson, Lord Justice Ackner and Sir John Willis

Banking - Letter of credit - Non-payment - Stay of action - Indian buyers purchased cloves from Singapore sellers - Buyers informed vessel and cargo lost - Buyers obtained injunction in Indian Court restraining defendants from paying under letter of credit - Plaintiffs brought action in England - Whether India or Singapore more appropriate forum - Whether English action should be stayed - Supreme Court Act, 1981, s. 49.

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