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2 Int'l Fin. L. Rev. 1 (1983)

handle is hein.journals/intfinr2 and id is 1 raw text is: January 1983 Comment: Legal opinions from borrowers 1982 survey of leading cases in London and New York The important cases in the major common law jurisdictions on arbitration, bankruptcy, general banking, guarantees, jurisdiction, letters of credit, loan documentation and securities law 17 Letters of credit: the ICC revises the rules The Uniform Customs and Practices were last revised in 1974. A final draft is now before the ICC for implementation later this year 22 Changing the co-financing agreements of the World Bank One of the proposals before the World Bank includes guarantees to commercial borrowers. Others are less ambitious 26 United States-Swiss memorandum of understanding on insider trading The expression of intent to cooperate on insider trading cases was the result of long discussions. One of the negotiators explains the background and the result 36 Ruling on the successor obligor clause United States appellate courts are rarely asked to resolve disputes in trust indentures or 'boilerplate' provisions 38 Guaranteeing payment of outstanding credits of Mexican borrowers Royal Bank of Canada Michael Rowe John Niehuss and Nicholas Ray Edward F Greene Robert S Rendell Claus von Wobeser Banks and corporations have devised a system to ensure payment from Mexican corporations with liquidity problems International briefings Chile: Central Bank resolutions to ease currency shortage. European Community: Compartmentalisation of the Common Market; IBM's appeal rejected. Germany: Alleged negligence claims dismissed; Sales participation of lender not treated like interest; Points in bill of exchange law clarified. Tightening sovereign's documentation. India: Customs appeal reformed. Iran: The Hague Tribunal faces letter of credit crisis. Nigeria: Fraudulent letters of credit. Spain: Recognition of foreign arbitration decision. New EC regulation on exclusive distributorship deferred. United Kingdom: Legal position of State entities; When a loan is not 'cash paid'. United States: Act of State doctrine bar to expropriation defence; Arbitration panel blocks letter of credit payment; Borrower liable despite exchange controls; Commercial paper is not a security. Renegotiation: after the initial reaction Royal Bank of Canada