US EditionBLs, pledges and the trust receipt: Possession as the touchstone for conversion claims
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BLs, pledges and the trust receipt: Possession as the touchstone for conversion claims
A recent decision of the Singapore High Court, Valency International Pte Ltd v JSW International Tradecorp Pte Ltd and others [2025] SGHC 50, clarifies the fundamental role of actual possession (or an immediate right to possession) of the underlying goods in order to sue for conversion of the goods against the context of pledges of bills of lading (BLs) and trust receipt loans. Considering that these are oft-used security instruments in trade fi…
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