EUROPEAN ASIAN BANK A.G. v. PUNJAB AND SIND BANK

[1983] 1 Lloyd's Rep. 611

COURT OF APPEAL

Before Lord Justice Slade and Lord Justice Robert Goff

Banking - Letter of credit - Non-payment - Indian buyers purchased cloves from Singapore sellers - Buyers informed vessel and cargo lost - Buyers obtained injunction in Indian Court restraining defendants from paying under letter of credit - Plaintiffs brought action in England - Whether plaintiffs entitled to summary judgment - Whether defendant entitled to leave to defend.