Sanatander case

No	Subject matter
1001	Banco Santander SA v. Bayfern Ltd. Confirming bank suit against issuing bank for reimbursement. Issuing bank defended on grounds of fraud by beneficiary made known to the banks before maturity of deferred payment undertaking incurred by confirming bank.
1002	Contrasting UK and US views of the controversial Banco Santander case "The case provides yet another example of the approach the courts in England take to the letter of credit"
1003	Appeal court rules on Santander The Court of Appeal in England (1) has upheld the right of the issuing bank of an irrevocable deferred payment documentary credit to refuse to reimburse the confirming bank on the grounds of fraud by the beneficiary.