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Glassberg, Jonathan William v UBS AG, Singapore Branch [2025] SGHC 4
The court held that the defendant bank did not owe a contractual or tortious duty of care to the plaintiff regarding an investment recommended by a relationship manager, as the manager lacked actual or ostensible authority and the bank's terms expressly disclaimed such liability.
Inter-Pacific Petroleum Pte Ltd (in liquidation) v Goh Jin Hian [2024] SGHC 178
A director of an insolvent company owes a duty to consider the interests of creditors, and a failure to exercise reasonable diligence in monitoring the company's affairs, leading to the company being used as a vehicle for fraud, constitutes a breach of duty.
Winson Oil Trading Pte Ltd v Oversea-Chinese Banking Corp Ltd and another suit [2023] SGHC 220
The Fraud Exception to the autonomy of letters of credit is established where a beneficiary presents documents containing material representations of fact that they know to be untrue, or makes such representations without belief in their truth (including being reckless/indifferen
Mizuho Corporate Bank Limited v Woori Bank [2004] SGHC 219
The court held that the '51 days clause' in the letters of credit was not a condition precedent to the issuing bank's obligation to pay, but rather a moratorium on negotiation. Breach of this clause did not entitle the issuing bank to refuse payment, but could potentially give ri
Standard Chartered Bank v Elang Mas Enterprise Pte Ltd and Others [2003] SGHC 181
A bank is entitled to terminate uncommitted credit facilities at its sole discretion, especially where the borrower has breached conditions such as maintaining a minimum net worth or property value.
PSA Corp Ltd v Korea Exchange Bank [2002] SGHC 88
The court held that the current s 47 of the Banking Act establishes a general prohibition on the disclosure of customer information, subject only to the exceptions in the Sixth Schedule.
Han Min v First Commercial Bank and Others (First Commercial Bank, Third Party) [2002] SGHC 108
The court found that the plaintiff was misled by bank officers into signing memoranda of lien without understanding their nature, and thus declared the memoranda not binding.
GRAINS AND INDUSTRIAL PRODUCTS TRADING PTE LTD v BANK OF INDIA & Anor
A nominated bank under UCP 600 acts as the issuing bank's agent for receiving documents, and a timely presentation to the nominated bank engages the issuing bank's liability to honour the credit.