Jenner & Block

“Using Standby Letters of Credit to Stay Execution on Large Judgments in the U.S.,” Documentary Credit World

In this article, Jenner & Block Of Counsel Carter H. Klein explains what a supersedeas letter of credit is, how it is used, and when it is appropriate (and when it is not). He also discusses important drafting considerations and other issues between the judgment debtor applicant and the judgment creditor beneficiary, as well as what terms issuing banks and courts are likely to accept or require for such letters of credit to be used.