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Protecting against online fraud: Contractual and compliance strategies after Logix Aero
While some may think it odd to pursue an "innocent" counterparty for losses caused by fraud, Logix Aero Ireland Limited v Siam Aero Repair Company Limited demonstrates that such an approach is not doomed to fail, but the contract terms must do the heavy lifting in advance.
As we observed in our Offshore Litigation Blog post on the Logix Aero decision, a breach that merely provides the setting for a third-party fraud will not ground a claim in damages.
Online fraud is not going away. For any defrauded party considering seeking damages from a contractual counterparty, the key lessons from Logix…
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