Scribd Logo
Upload

Welcome to Scribd!

  • Fiona Trust & Holding Corporation Ors V Privalov Ors (2010) EWHC 3199 (Comm) (10 December 2010)

    Uploaded by

    zeerak jabeen
    25 views56 pages
    This document is a court ruling that discusses whether a letter of credit transaction was a sham transaction intended to deceive. The court analyzed the facts and circumstances of the transaction to determine the intentions of the parties. Ultimately, the court ruled that the transaction was a genuine commercial deal rather than a sham, and therefore upheld the letter of credit.

    Original Description:

    Original Title

    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010)

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document is a court ruling that discusses whether a letter of credit transaction was a sham transaction intended to deceive. The court analyzed the facts and circumstances of the transaction to determine the intentions of the parties. Ultimately, the court ruled that the transaction was a genuine commercial deal rather than a sham, and therefore upheld the letter of credit.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    25 views56 pages

    Fiona Trust & Holding Corporation Ors V Privalov Ors (2010) EWHC 3199 (Comm) (10 December 2010)

    Uploaded by

    zeerak jabeen
    This document is a court ruling that discusses whether a letter of credit transaction was a sham transaction intended to deceive. The court analyzed the facts and circumstances of the transaction to determine the intentions of the parties. Ultimately, the court ruled that the transaction was a genuine commercial deal rather than a sham, and therefore upheld the letter of credit.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 56

    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010)

    22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 1 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 2 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 3 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 4 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 5 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 6 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 7 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 8 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 9 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 10 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 11 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 12 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 13 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 14 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 15 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 16 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 17 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 18 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 19 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 20 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 21 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 22 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 23 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 24 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 25 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 26 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 27 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 28 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 29 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 30 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 31 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 32 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 33 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 34 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 35 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 36 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 37 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 38 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 39 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 40 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 41 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 42 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 43 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 44 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 45 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 46 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 47 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 48 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 49 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 50 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 51 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 52 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 53 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 54 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 55 of 56
    Fiona Trust & Holding Corporation Ors v Privalov Ors [2010] EWHC 3199 (Comm) (10 December 2010) 22/08/20, 9(33 PM

    http://www.bailii.org/cgi-bin/markup.cgi?doc=ew/cases/EWHC/Comm/2010/3199.html&query=Premium%20Nafta%20Products%20Ltd Page 56 of 56

    You might also like