2025.02.14 – UKHC judgement in the case between Litasco S.A. and Banque El Amana S.A.

Attached is the judgement. It is given in the context of a Swiss company attempting to enforce a claim under a letter of credit issued by a Mauritanian bank. An important part of the judgement is the analysis of the Ralli Bros principle. The judgement is authority (among others) that: (i) the principle does not apply if the illegality is the result of an order of a foreign court and not a provision of a law or a regulation; and (ii) a delay in discharging the obligation affected by illegality will result in an inability of the defendant to rely on this principle.