Sullivan
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ITFA (International Trade and Forfaiting Association) and Sullivan & Worcester have issued a joint note on the continued use of the English law BAFT Master Participation Agreement (MPA) following the High Court judgment in the case of Yieldpoint Stable Value Fund, LP v Kimura Commodity Trade Finance Fund Limited [2023] EWHC 1212 (Comm). This case reflected issues surrounding the use of a maturity date in an Offer made pursuant to an MPA. The note is designed to offer a practical approach to using the current BAFT MPA in these circumstances and not any comment on the facts of the case or the proceedings.

The judgement is available to ITFA members (only) through its website, here.

Sullivan Trade & Export Finance partner Geoffrey Wynne, together with former Of Counsel (Trade Finance, Knowledge and Compliance) Jacqueline Cook in London, worked on the case note with ITFA.