The Kingdom of Saudi Arabia (KSA) has been actively pursuing economic diversification for investors to do business in the Kingdom.

Heytex Bramsche GmbH v. Unity Trade Capital Ltd [2022] EWHC 2488 (Ch). The Court has rejected a finance company’s contention that the documents presented under a letter of credit (LC) that it had issued were discrepant, rendering the LC void.

The Court has dismissed the Sellers’ jurisdictional challenge to GAFTA arbitration awards against them.