Pacific Carriers Ltd v BNP Paribas

High Court decision in Pacific Carriers v BNP Paribas, that BNP Paribas was estopped from denying the authority of its manager to sign the documents on its behalf will be a relief to third parties who rely on documents signed for and on behalf of financial institutions - particularly to those involved in the shipping industry who seek letters of indemnity relating to discharge of cargo without production of bills of lading.