WUHAN GUOYU LOGISTICS GROUP CO LTD AND ANOTHER v EMPORIKI BANK OF GREECE SA (NO 2)
[2014] Lloyd's Rep Plus 3
COURT OF APPEAL
Before Lord Justice Longmore, Lord Justice Rimer and Lord Justice Tomlinson
Guarantee - Bank paying shipbuilder pursuant to on-demand guarantee in respect of second instalment of purchase price - Arbitrators finding that instalment was not in fact due - Whether payment held by shipbuilder on trust for bank.