BANQUE DE COMMERCE ET DE PLACEMENTS SA, DIFC BRANCH AND ANOTHER v CHINA AVIATION OIL (SINGAPORE) CORPORATION LTD

[2026] Lloyd's Rep. Plus 42

SINGAPORE COURT OF APPEAL

Before Chief Justice Sundaresh Menon , Justice of the Court of Appeal Steven Chong and Justice of the Court of Appeal Belinda Ang Saw Ean

Letters of credit – Circular transaction for sale of gasoil – Payment against letter of indemnity – Tort of deceit – Representation in letter of indemnity – Whether false – Whether fraudulent – Bank’s reliance on representation in letter of indemnity.