MIRABELLA v. BANCO INDUS. DE LA REPUBLICA ARGENTINA


29 A.D.2d 940 (1968)

Anthony Mirabella, as Assignee of Franco Gronda and Another, Respondent, v. Banco Industrial De La Republica Argentina, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

April 30, 1968


Per Curiam.

This is an action to recover $85,000,000 as damages for the cancellation in 1948 of six letters of credit issued to plaintiff's assignor in 1948 to finance the establishment of an aluminum industrial complex in Argentina. The transaction was between the assignor, an Italian national residing in Italy, now deceased, and the defendant, an instrumentality of the Argentine government, and all of its incidents and performance were contemplated to occur...

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