TURKIYE IS BANKASI AS v. BANK OF CHINA

[1998] 1 Lloyd's Rep. 250

COURT OF APPEAL

Before Lord Justice Hirst, Lord Justice Swinton Thomas and Lord Justice Mantell

Banking - Counter-guarantees - Enforcement - Counter-guarantees provided to back performance bonds to secure obligations under building contracts - Demands made under performance bonds - Whether demands fraudulent - Whether plaintiffs bound to pay under performance guarantee - Whether counter-guarantees could be enforced.