RAINY SKY SA AND OTHERS v KOOKMIN BANK
[2012] 1 Lloyd's Rep. 34
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.