UNICREDIT BANK AG v GLENCORE SINGAPORE PTE. LTD.
Key facts
| Court | Court of Appeal |
|---|---|
| Decided | |
| Judges | Belinda Ang Saw Ean, Judith Prakash, Sundaresh Menon |
| Charges / claim | Contract, Tort, Banking, Bills of Exchange and other Negotiable Instruments |
| Counsel | Chan Leng Sun LLC, Clasis LLC, Colin Liew LLC, Dentons Rodyk & Davidson, Kenneth Tan Partnership, Chan Leng Sun, Colin Liew, Hannah Chua, Herman Jeremiah, Jeffrey Koh, Joie Tan Yi Xi, Kenneth Tan, Koh Kia Jeng, Ooi Shu Min, Stuart Ralph Lim Xiu Wu, Toh Cher Han |
Source: [2023] SGCA 41, Court of Appeal, decided — eLitigation. Updated .
Catchwords
Practice Areas
Counsel (16)
Case Significance
UniCredit Bank AG v Glencore Singapore Pte Ltd [2023] SGCA 41 is a Court of Appeal decision, with the grounds delivered by Belinda Ang Saw Ean JCA on 28 November 2023, sitting alongside Sundaresh Menon CJ and Judith Prakash JCA. The sole issue was whether the General Division of the High Court erred in dismissing UniCredit's claim against Glencore in the tort of deceit, arising from banking facilities of US$85m granted to Hin Leong Trading (Pte) Ltd on 22 November 2019 to finance letters of credit for oil and commodities. The court dismissed the appeal with costs, finding the cause of action in deceit ill-founded on the facts, in a judgment touching the letter-of-credit fraud exception. It has been cited 19 times.
[2023] SGCA 41 explained
UNICREDIT BANK AG v GLENCORE SINGAPORE PTE. LTD. ([2023] SGCA 41) is a Singapore judgment decided by the Court of Appeal on 28 November 2023. It is categorised under Contract, Tort, Banking, and Bills of Exchange and other Negotiable Instruments. It is a recent decision; within this corpus no later judgment has cited it yet. 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 41 about?
UNICREDIT BANK AG v GLENCORE SINGAPORE PTE. LTD. ([2023] SGCA 41) is a Court of Appeal decision from 2023. Its published catchwords are “Contract - Misrepresentation - Fraudulent”, “Tort - Misrepresentation - Fraud and Deceit”, “Banking - Letters of Credit - Fraud Exception”, 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 41 consider?
The judgment refers to Breach of the Glencore LOI pursuant to the Contract (Rights of Third Parties) Act (Cap 53B). The statutes cited are listed in full on this page, each linking to its primary text.
What earlier Singapore cases does [2023] SGCA 41 cite?
Among the in-corpus authorities it refers to are [2023] SGCA(I) 7, [2023] SGCA 28, and [2023] SGHC 12. The complete list of cases cited, and of later cases that cite this decision, is shown on this page.
What did the Court of Appeal decide in UniCredit Bank AG v Glencore Singapore [2023] SGCA 41?
On 28 November 2023 the Court of Appeal dismissed UniCredit's appeal with costs, holding that its claim against Glencore in the tort of deceit was ill-founded on the facts, arising from US$85m facilities granted to Hin Leong Trading.
Who delivered the grounds of decision in UniCredit v Glencore [2023] SGCA 41?
Belinda Ang Saw Ean JCA delivered the grounds of decision of the court on 28 November 2023, sitting with Sundaresh Menon CJ and Judith Prakash JCA in Civil Appeal No 9 of 2023.
Statutes Cited
Cases Cited (19)
Related cases
Other Singapore judgments involving the same parties or counsel.
Referenced in
Statutes interpreted in this judgment
Judgment
Read the full judgment on the official Singapore Courts portal.
Read on eLitigationSource: eLitigation ([2023] SGCA 41)