High Court finds UK sanctions do not preclude entry of judgments in favour of Russian sanctioned parties

The High Court has considered the impact of the UK sanctions against Russia on various aspects of litigation involving a sanctioned party: PJSC National Bank Trust v Mints [2023] EWHC 118 (Comm). The judgment raises important questions of law with wide implications for litigation involving sanctioned entities. The court’s key finding was that the UK sanctions do … Read more

Interpreting ICC standardised rules in trade finance disputes: courts take an international perspective

Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law on interpreting International Chamber of Commerce (ICC) standardised rules in trade finance disputes. Banking practice in areas of trade finance such as demand guarantees and letters of credit is standardised by a collection of contractual rules published by the ICC. … Read more