Crédit Agricole Corporate & Investment Bank Singapore Branch v PPT Energy Trading Co. Ltd.

Q: Which legislation does [2023] SGCA(I) 7 consider?

The judgment refers to Sale of Goods Act. The statutes cited are listed in full on this page, each linking to its primary text.

[2023] SGCA(I) 7 Court of Appeal (International) 24 October 2023 CA/CAS 2/2022 53 min read

12 cases cited (3 SG, 9 foreign) Cited by 4 cases

Key facts

Court	Court of Appeal (International)
Decided	24 October 2023
Judges	Bernard Rix, Jonathan Hugh Mance, Judith Prakash
Charges / claim	Credit and Security, Bills of Exchange and Other Negotiable Instruments
Counsel	Essex Court Chambers, Mayer Brown (Singapore) Pte Ltd, PK Wong & Nair LLC, Twenty Essex Chambers, Wee Swee Teow LLP, Bibek Mukherjee, Bryan Tan, David Joseph, Giam Chin Toon, Lee Wei Yuen Arvin, Michael Collett, Nair Suresh Sukumaran, Tay Ting Xun Leon, Tay Yu-Jin, Wan Hui Ting Monique

Source: [2023] SGCA(I) 7, Court of Appeal (International), decided 24 October 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Credit and Security — Guarantees and indemnities — Contracts of indemnity Bills of Exchange and Other Negotiable Instruments — Letter of credit transaction

Practice Areas

Credit and Security Bills of Exchange and Other Negotiable Instruments

Case Significance

Crédit Agricole Corporate & Investment Bank, Singapore Branch v PPT Energy Trading Co Ltd and another appeal [2023] SGCA(I) 7 is a reserved judgment of the Court of Appeal, comprising Judith Prakash JCA, Jonathan Hugh Mance IJ and Bernard Rix IJ, delivered on 24 October 2023 in Civil Appeal Nos 2 and 3 of 2022. The appeals arose from two cases heard by the Singapore International Commercial Court, SIC/S 1/2021 and SIC/S 2/2021, in which Crédit Agricole (CACIB) was plaintiff in Suit 1 and defendant in Suit 2, and PPT Energy Trading was defendant in Suit 1 and plaintiff in Suit 2, concerning a letter of credit transaction and contracts of indemnity. The Judge in the SICC had dismissed CACIB's claim in Suit 1 and allowed PPT's claim in Suit 2, and both matters came before the Court of Appeal.

[2023] SGCA(I) 7 explained

Crédit Agricole Corporate & Investment Bank Singapore Branch v PPT Energy Trading Co. Ltd. ([2023] SGCA(I) 7) is a Singapore judgment decided by the Court of Appeal (International) on 24 October 2023. It is categorised under Credit and Security and Bills of Exchange and Other Negotiable Instruments. Within this corpus it has since been cited by 4 other reported Singapore judgments, a measure of how often later decisions have referred to it. This page summarises what the reported decision covers and links the primary sources — the full judgment, the statutes it cites, and the other cases it engages with — so the decision can be read in context. It is reference information, not legal advice, and it does not state the outcome or any holding beyond what the official judgment records.

What is [2023] SGCA(I) 7 about?

Crédit Agricole Corporate & Investment Bank Singapore Branch v PPT Energy Trading Co. Ltd. ([2023] SGCA(I) 7) is a Court of Appeal (International) decision from 2023. Its published catchwords are “Credit and Security — Guarantees and indemnities — Contracts of indemnity” and “Bills of Exchange and Other Negotiable Instruments — Letter of credit transaction”, which indicate the subject matter the judgment addresses. The full reasoning and orders are in the judgment itself, linked below.

Which legislation does [2023] SGCA(I) 7 consider?

The judgment refers to Sale of Goods Act. The statutes cited are listed in full on this page, each linking to its primary text.

What earlier Singapore cases does [2023] SGCA(I) 7 cite?

Among the in-corpus authorities it refers to are [2023] SGCA 28. The complete list of cases cited, and of later cases that cite this decision, is shown on this page.

How influential is [2023] SGCA(I) 7?

Within this corpus, [2023] SGCA(I) 7 has been cited by 4 later reported Singapore judgments. That count reflects references from other decisions held in this corpus only and is a conservative lower bound on how often the case has actually been cited.

What was Crédit Agricole v PPT Energy Trading [2023] SGCA(I) 7 about?

It was an appeal to the Court of Appeal from two Singapore International Commercial Court suits between Crédit Agricole and PPT Energy Trading concerning a letter of credit transaction and contracts of indemnity, decided on 24 October 2023.

What had the SICC decided before the appeals in [2023] SGCA(I) 7?

The Judge in the Singapore International Commercial Court had dismissed Crédit Agricole's claim in Suit 1 (SIC/S 1/2021) and allowed PPT Energy Trading's claim in Suit 2 (SIC/S 2/2021), leading to Civil Appeal Nos 2 and 3 of 2022.