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9 November, 2017 Taurus Petroleum Limited (Appellant) v State Oil Marketing Company of the Ministry of Oil, Republic of Iraq (Respondent) [2017] UKSC 64 (Lord Neuberger, Lord Mance, Lord Clarke, Lord Sumption, Lord Hodge)

On 25 October 2017 the Supreme Court handed down judgment in Taurus v SOMO, allowing Taurus’ appeal. Amongst other matters, the Court unanimously overruled earlier Court of Appeal authority on the situs of debts arising under letters of credit. The full judgment can be read here: https://www.supremecourt.uk/cases/docs/uksc-2015-0199-judgment.pdf A summary is available at https://www.supremecourt.uk/cases/docs/uksc-2015-0199-press-summary.pdf Gordon Pollock QC (leading Guy Blackwood QC, […]