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Chinese Bank Expands $16.3M Fraud Case Against Exporter

Law360, London (March 14, 2019, 10:51 PM GMT) -- A Chinese bank seeking $16.3 million in damages from a commodities exporter for an alleged trade scheme in which it received undue payments from Deutsche Bank in London has alleged in an amended claim that the “implied terms” of their contract prevented the submission of sham shipping documents.

Oversea-Chinese Banking Corp., or OCBC, had already accused Global TradingLinks of fraudulent misrepresentation, unlawful means conspiracy and unlawful interference with the bank’s contractual rights. Its March 8 filing added breach of implied contractual terms to the list.

The implied terms of the contract between OCBC and the exporter include that “GTL would not...

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