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BUNGE CORP. v. MFRS. HANOVER TRUST

37 A.D.2d 409 (1971)

Bunge Corporation, Respondent, v. Manufacturers Hanover Trust Company, Appellant

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

November 18, 1971.

Attorney(s) appearing for the Case

Robert Ehrenbard of counsel (Joseph J. Santora, Thomas R. Cosgrove and Roy R. Schwartz with him on the brief; Kelley Drye Warren Clark Carr & Ellis, attorneys), for appellant.

Seymour Graubard of counsel (Michael H. Greenberg and Noah Scooler with him on the brief; Graubard Moskovitz McGoldrick Dannett & Horowitz, attorneys), for respondent.

CAPOZZOLI, J. P., and McGIVERN, J., concur; McNALLY and MACKEN, JJ., dissent and vote to affirm on opinion of Mr. Justice ARNOLD L. FEIN at Trial Term.

NUNEZ, J.

Plaintiff Bunge Corporation (Bunge) is a major exporter of agricultural commodities, including soybean and other vegetable oils. Defendant Manufacturers Hanover Trust Company (Manufacturers) is a commercial bank in New York City. Allied Crude Vegetable Oil Refining Corporation (Allied) was a large scale refiner of and trader in vegetable oils.

Manufacturers permitted Allied to make extensive...

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