Deutsche Bank AG v CIMB Bank Berhad

Subject Matter

BANKING — Letter of credit — Payment — Confirming bank claiming to have paid beneficiary under letters of credit and seeking reimbursement from issuing bank — Issuing bank refusing to accept statement alone and making request for further information putting confirming bank to proof of payments to beneficiary — Whether issuing bank required to accept statement by confirming bank that it had paid beneficiary or entitled to proof of payment to beneficiary — Whether further information to be ordered — CPR r 18.1 — Uniform Customs and Practice for Documentary Credits (UCP 600) (2007 rev), arts 2, 7(c)

[2017] EWHC 1264 (Comm); [2017] Bus LR 1671; [2017] 2 CLC 155; [2017] WLR (D) 368, QBD