Philip Carstairs

Jul 9, 2024 | mondaq.com | Philip Carstairs |Jason Rix

Last year we covered the High Court's judgment about the interplay between sanctions and contractual payment obligations in Celestial Aviation v UniCredit. The Court of Appeal has now reversed several important aspects of that judgment. UniCredit had refused to pay demands under stand-by letters of credit which it had confirmed, believing that to have done so would be in breach of sanctions against Russia.

Jul 1, 2024 | lexology.com | Philip Carstairs |Jason Rix

Last year we covered the High Court’s judgment about the interplay between sanctions and contractual payment obligations in Celestial Aviation v UniCredit. The Court of Appeal has now reversed several important aspects of that judgment. Refusal to pay under letters of creditUniCredit had refused to pay demands under stand-by letters of credit which it had confirmed, believing that to have done so would be in breach of sanctions against Russia.

Feb 27, 2024 | jdsupra.com | Jonathan Benson |Philip Carstairs |Tom d'Ardenne

Who has to comply with the Regulation? The Regulation only applies to EU person exporters who are selling, supplying, transferring, or exporting the targeted goods (including aircraft) to third-country counterparts outside of the EU but who themselves are not in a partner country.

May 30, 2023 | jdsupra.com | Jonathan Benson |Philip Carstairs |Sophie Davis

One of the many legal consequences of Russia’s full-scale invasion of Ukraine in February last year was that businesses were faced with having to analyse the exact remit of sanctions laws and the extent to which they caught payment obligations under pre-existing arrangements, often in very short timescales and while the laws were changing. Here the High Court looks at that very question in the context of payment obligations under some letters of credit.