Owners of or Other Persons Interested in the Cargo Lately Laden Onboard Jeil Crystal v Owners of the Vessel "Jeil Crystal" (The Jeil Crystal) [2024] SGHC 74

Privity: precaution in vessel arrest

This is a Singapore High Court decision concerning a bank's reliance on bills of lading as security for the provision of trade financing to its customers. The arresting bank had applied the vessel arrest in support of the claim that it was the lawful holder of the bills of lading in respect of cargo released without presentation, whereas in fact it had previously endorsed the bills of lading to its trade finance client so that they were no longer in its possession.