Tsingtao: More Than Just a Beer
In what some are calling the scam of the century, losses in excess of USD 3 Billion have already resulted in connection with the copper commodities scam unfolding in the Chinese port of Tsingtao over the last year. The impact of this fraud extends to major international banks eager to take advantage of the boom in the Chinese economy. Banks that thought they were safe because they were acting on LCs issued by Chinese banks are enduring harsh consequences. While banks may have thought they had protection under LC law and practice, they have had difficulty establishing that they acted in good faith.
This specially recorded webinar features the preeminent litigator in the Tsingtao affair, Mr. JIN Saibo of the Tongshang law firm (Beijing), who has handled more than 20 of these cases. Mr. Jin is joined by Professor James E. Byrne of IIBLP, and Mr. Jacob Manning, an attorney from US law firm Dinsmore and Shohl.
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