Letters of credit: location of debt | Practical Law

Letters of credit: location of debt | Practical Law

The Court of Appeal has confirmed that a debt due under a letter of credit is located where payment is to be made and not where the debtor resides.

Letters of credit: location of debt

Practical Law UK Articles 9-619-6954 (Approx. 2 pages)

Letters of credit: location of debt

by Freshfields Bruckhaus Deringer LLP
Published on 29 Oct 2015 • United Kingdom
The Court of Appeal has confirmed that a debt due under a letter of credit is located where payment is to be made and not where the debtor resides.