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Heytex Bramsche GmbH v. Unity Trade Capital Ltd.

[2022] EWHC 2488 (Ch.) (2022)

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Heytex Bramsche GmbH v. Unity Trade Capital Ltd.

High Court of England and Wales (Chancery Division)
[2022] EWHC 2488 (Ch.) (2022)

Facts

Jibran Technical Services LLC (Jibran), a company based in the United Arab Emirates, contracted to purchase fabrics from the German company Heytex Bramsche GmbH (Heytex) (plaintiff). To facilitate the purchase, Jibran had Unity Trade Capital Ltd. (UTC) (defendant) issue an irrevocable letter of credit in Heytex’s favor for €200,707.50. The letter incorporated the standard terms from the current Uniform Customs and Practice for Documentary Credits (UCP). A dispute later arose concerning the letter of credit. When UTC did not make payment to Heytex, Heytex sued UTC.

Rule of Law

Issue

Holding and Reasoning (Greenwood, J.)

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