Continue reading "Construction Focus: On-demand bonds – a return to form?"
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Construction Focus: On-demand bonds – a return to form?
John Starr reviews recent cases highlighting that the courts will only interfere with irrevocable obligations, such as bonds, in exceptional cases ‘The only established exceptions to the rule that the court will not intervene should be where there is a seriously arguable case of fraud, or it has been clearly established that the beneficiary is …
Cases Referenced
Cases in bold have further reading - click to view related articles.
- Doosan Babcock Ltd & anor v Comercializadora de Equipos y Materiales Mabe Limitada [2013] EWHC 3201 (TCC)
- Edward Owen Engineering Ltd v Barclays Bank International Ltd [1978] QB 159
- MW High Tech Projects UK Ltd & anor v Biffa Waste Services Ltd [2015] EWHC 949 (TCC)
- RD Harbottle (Mercantile) Ltd v National Westminster Bank Ltd [1978] QB 146
- Simon Carves Ltd v Ensus UK Ltd [2011] EWHC 657 (TCC)
- Wuhan Guoyu Logistics Group Co Ltd & anor v Emporiki Bank of Greece SA (No 2) [2013] EWCA Civ 1679