UniCredit Can Withhold Finance Docs In $26M Oil Row

Law360, London (June 11, 2021, 12:58 PM BST) -- UniCredit Bank AG will not have to turn over documents in connection with the lender's $26.3 million lawsuit against the owner of a cargo tanker after a shipment of oil disappeared at a port, a London court ruled on Friday.

High Court Judge Clare Moulder refused to force the German bank to sign a letter requesting that an oil trader should turn over documents linked to its purchase of oil from BP.

UniCredit provided Gulf Petrochem FZC, an oil trader, with financing to buy oil from BP, only for the thousands of tonnes of oil to apparently disappear after the cargo arrived...

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