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Chinese Truck Maker Chases UK Lender For $3M Unpaid Credit

By Alex Davis[1]

Law360, London (February 15, 2017, 9:32 PM GMT) — A Chinese truck manufacturing company is chasing a U.K.-based credit-lending outfit for £3 million in damages, saying the firm didn’t pay out the sum agreed under a letter of credit, according to documents filed with London’s High Court seen Wednesday by Law360.

Yuchai Dongte Special Purpose Automobile Co.

Ltd, a subsidiary of the Yuchai Group, says in its filing that Suisse Credit Capital (2009) Ltd. promised that either it or nominated bank Suisse Bank (Offshore) Ltd. would pay out the £3 million under a letter of…

References

  1. ^ Alex Davis (www.law360.com)

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