RAINY SKY SA AND OTHERS v KOOKMIN BANK
[2011] Lloyd's Rep Plus 98
SUPREME COURT
Before Lord Phillips PSC, Lord Mance, Lord Kerr, Lord Clarke and Lord Wilson JJSC
Contract - Guarantee - Shipbuilding contracts - Bank issuing Advance Payment Bonds guaranteeing repayment to buyers of pre-delivery instalments of purchase price in certain events - Whether bond covered contractual repayments due from shipbuilder to buyers on insolvency of shipbuilder.