Lloyd's Law Reports Plus

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

SEA-CARGO SKIPS AS v STATE BANK OF INDIA

[2013] Lloyd's Rep Plus 72

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Teare

Banking - Refund guarantee - Shipbuilding contract - Delay - Buyer cancelling contract - Builder failing to repay pre-delivery instalments of price - Buyer making demand on bank under refund guarantee - Bank refusing to pay - Whether demand complied with terms of refund guarantee - Whether enforcement precluded by buyer's assignment of refund guarantee.

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