Successfully set aside injunction depriving Tamil Nadu state-owned newsprint producer of calling on performance guarantee

Providence Law successfully set aside an injunction that prevented a large local bank from making payments to an Indian State-owned newsprint producer, on a performance guarantee that amounted to approximately US$400,000. Providence Law argued for the injunction from the Singapore High Court to be set aside on the basis that there was no unconscionable conduct from the client to justify the injunction, to which the High Court agreed. The account party nevertheless objected to payment, claiming alleged non-compliance with the requirements of a personal guarantee. Providence Law continued to act for the newsprint enterprise and successfully persuaded the Singapore High Court to overrule further objections. The account party was then ordered to pay our client substantial damages for the delay on top of the US$400,000.