Program Subject to Change
8:30 – 9:00 Registration & Check-In
9:00 – 9:10 Welcome from our Host
9:10 – 9:30 Welcome & Introducing Yourselves
9:30 – 10:30 What’s Trending in Trade and Capital
- Finding an Acceptable Mode of Presentation (Are considerations outside the scope of eUCP holding it back?)
- eBills of Lading
- DITI Project – Harmonizing and Standardizing Trade Transactions among Countries
- ISBP 821 Update – Proposed Revision and Education Project
- Addressing the Risk of Documents being Presented to Multiple Banks & TAB 9
- Amendments: What are Banks to do When Beneficiaries Hold All the Cards?
- Basel III Endgame or Pregame for Re-Proposal
Moderator: Lorna STRONG (Consultant)
Panelists: Rick MARTINEZ (Hogan Lovells); Michael AVIDON (Moses & Singer); David MEYNELL via Zoom (ICC); Mary ROSEN (Wells); Sara LENET via Zoom (Hogan Lovells)
10:30 – 10:45 Group Picture, Coffee & Networking Break
10:45 – 11:45 Judgments in Focus: Key Legal Rulings
Injunction Cases
- Consolidated Electrical Distributors, Inc. v. United Renewable Energy Co (LC draw injunction denied on standby LC to secure payment for solar panels already delivered by Taiwanese manufacturer)
- Experior Global Warehousing, LLC v. BTC III Hamilton DC LLC (injunction against LC draw denied. Right result; wrong rationale)
Breach of Warranty Case
- Süd Family Ltd. v. Otto Baum Co. (claims under UCC Sec. 5-110 and common law for draws by an assignee on an LC securing a judgment after the judgment was settled and allegedly paid in full)
Supersedeas LC Case
- In re Spiegel (claim denied for loss of CDs pledged to issuing bank by applicant’s son to secure LC draw which was honored and CDs liquidated)
Moderator: Carter KLEIN (Jenner)
Panelists: Frank FORTES (TD); JIN Saibo (JTN); Matt KOZAKOWSKI (IIBLP); Robert McFARLANE(Moses & Singer); Paul RODER (Moses & Singer)
11:45 – 12:00 Coffee & Networking Break
12:00 – 12:45 The FinCrime Review: Sanctions & Fraud
A review of recent court cases involving independent undertakings and sanctions & fraud matters (BCP, Celestial Aviation, Kuvera, Inter-Pacific Petroleum Pte Ltd, and Winson Oil Trading), plus ICC Opinion TA.942rev. and secondary sanctions.
Moderator: Marc ARMAS (Walden Macht Haran & Williams)
Panelists: Lorna STRONG (Consultant); SOH Chee Seng (IIBLP); Jason DESROCHES (Nat’l Bank of Canada); Frank FORTES (TD)
12:45 – 1:45 Lunch Break
1:45 – 2:30 Real Estate Standbys
Moderator: Mike AVIDON (Moses & Singer)
Panelists: Nahum PALEFSKI (Moses & Singer); Arlen MORADI (Buchalter); Mary ROSEN (Wells Fargo); Kristine SIEBEL (Ret’d, SocGen)
2:30 – 2:45 Coffee & Networking Break
2:45 – 3:25 ISP98: Influencing the Next Generation
ISP98 has influenced a generation of LC practitioners, and is primed to influence the next generation of specialists. This panel will review how ISP98 has influenced the industry, and then will discuss where the ISP98 could evolve or change to keep up with trends.
- BasicNet S.p.A. v. CFP Services. Ltd., 120 A.D.3d 97, 988 N.Y.S.2d 593 (N.Y. App. Div. 2014) [USA] (ISP in an undertaking relied upon to enforce it as an LC even though issued by a non-bank)
- Nissho Iwai Europe plc v. Korea First Bank, No. 147/2002 (N.Y. 2002) [USA] (How to properly word an LC, giving careful attention to automatic extension vs. automatic renewal)
- Continental Casualty Co. v. SouthTrust Bank, 933 So. 2d 337 (Ala. 2006) [USA] (Informality of drafts under ISP)
- Shinetec (Australia) Pty Ltd v. The Gosford Pty Ltd [2024] NSWCA 174 [Australia] (ISP98 Rules 6.11-6.13 and Status of the ISP98 Official Commentary and extent to which it can be used to construe the ISP98 rules)
- ANZ Manila Branch v. China National Electric Engineering Co. (demands of counter standby beneficiary did not constitute fraud and counter standby issuer obligated to pay)
Moderator: Carter KLEIN (Jenner)
Panelists: Mike AVIDON (Moses & Singer); Frank FORTES (TD); JIN Saibo (JTN); Dennis NOAH(IIBLP); Paul RODER (Moses & Singer); Kristine SIEBEL (Ret’d)
3:25 – 4:05 Supply Chain & Receivables Finance: The Lawyer’s Perspective
- Deep-tier supply chain finance
- How has sustainable finance looked in practice, and how can we identify best practices
Moderator: Lorna STRONG (Consultant);
Panelists: Rick MARTINEZ (Hogan); Mike AVIDON (Moses & Singer)
4:05 – 4:20 Coffee & Networking Break
4:20 – 4:50 Ask the Experts
This is a chance to ask the experts your most complicated questions. Examples include: what is the applicable law and jurisdictions if not expressly referenced in the LC? Or, how can I be sure the LC is authenticated? Ask these and more.
Moderator: Frank FORTES (TD Securities)