Oversea-Chinese Banking Corporation v Owner and/or Demise Charterer of the STI Orchard, Winson Oil Trading Pte Ltd intervening (The “STI Orchard”) – High Court of the Republic of Singapore [2022] SGHCR 6 (Assistant Registrar Navin Anand) – 23 May 2022

Bills of lading – Cargo delivered to buyer without production of bills of lading – Buyer becoming insolvent and defaulting on credit facilities provided by Bank – Bills of lading later acquired by buyer and endorsed to Bank – Whether Bank could claim against carrier under bills of lading for misdelivery – Good faith – Whether bills of lading spent – Whether Bank consented

The claimant Bank entered into trade financing arrangements with Hin Leong Trading (HLT) on the terms of a Credit Facilities Letter dated 17 July 2019 whereby credit was made subject to the Banks’ Terms and Conditions under which the Bank had the right to direct HLT to endorse any bills of lading to the Bank.