By Maya Lester KC & Michael O’Kane

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By Maya Lester KC & Michael O’Kane

English judgment says UK & US sanctions didn’t affect obligation to pay under letter of credit

24 March 2023

English judgment says UK & US sanctions didn’t affect obligation to pay under letter of credit

The Commercial Court yesterday gave judgment in Celestial Aviation Services v UniCredit Bank and Celestial Aviation Services Limited v. UniCredit Bank AG. UniCredit refused to make payment to aircraft lessors under letters of credit...

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Regimes / Regions

Sanctioning States

By Michael O'Kane

Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters and as a prosecutor...

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