Zarya LLC filed a lawsuit with the arbitration court against the issuing bank and the executing bank for reimbursement of amounts unreasonably paid to the recipient of funds from the letter of credit.
The plaintiff indicated that the executing bank should not have made payments on the basis of the documents submitted, since the goods were not actually shipped.
JSC "Call" (recipient of funds) has virtually ceased to exist, and therefore the return of funds received by it is impossible. The fact that the employees of the recipient organization made fake shipping documents was confirmed by a court verdict in a criminal case.
The arbitral tribunal satisfied the claims at the expense of the executing bank, indicating that it had not verified the documents properly submitted to it. The bank’s reference to the absence of its fault in causing damage to the plaintiff was not taken into account by the court, since, in accordance with paragraph 3 of Article 401 of the Civil Code of the Russian Federation, banks as persons who improperly performed the obligation in carrying out entrepreneurial activities are also liable if there is no fault, unless otherwise prescribed by law or contract.
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