Standard Bank wins dismissal of claims involving Uzbekistani cotton purchase contract and associated advance payment guarantee
Clients Standard Bank Plc
Jones Day acted for Standard Bank in the Commercial Court and Court of Appeal (and in ensuing detailed assessment proceedings) with respect to claims alleged in deceit, restitution, contract, and conversion arising from the financing of a Uzbekistani cotton purchase contract and associated advance payment guarantee. Each of Uzinterimpex's grounds of appeal were dismissed and the bank was awarded its costs, which were successfully recovered subsequently.
Uzinterimpex J.S.C. v. Standard Bank London Limited (2008) All ER (D) 196 (Jul); (2008) 2 Lloyd's Rep 456; (2008) Times, 12 August (Court of Appeal); (2007) All ER (D) 231 (May); (2007) 2 Lloyd's Rep 187, Claim No. 2004 Folio 857 (Commercial Court)