WUHAN GUOYU LOGISTICS GROUP CO LTD AND ANOTHER V EMPORIKI BANK OF GREECE SA (NO 2)
[2014] 1 Lloyd's Rep. 273
COURT OF APPEAL
Before Lord Justice LONGMORE,Lord Justice RIMER,Lord Justice TOMLINSON
Banking – 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.