WUHAN GUOYU LOGISTICS GROUP CO LTD AND ANOTHER v EMPORIKI BANK OF GREECE SA
[2014] BLR 119
COURT OF APPEAL(CIVIL DIVISION)
Before Lord Justice LONGMORE,Lord Justice RIMER,Lord Justice TOMLINSON
On-demand guarantee – Payment by bank under the guarantee to beneficiary of guarantee – Whether beneficiary holds the monies on trust for the bank