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BOSCO MIDDLE EAST OIL CORPORATION v. BANK OF AMERICA

No. 72 Civ. 985.

343 F.Supp. 1072 (1972)

BOSCO MIDDLE EAST OIL CORPORATION, Plaintiff, v. BANK OF AMERICA, Investitions und Handelsbank, Ag. and Sahara Bank, Defendants.

United States District Court, S. D. New York.

March 28, 1972.

Attorney(s) appearing for the Case

Trubin, Sillcocks, Edelman & Knapp, of New York City, for plaintiff; Albert I. Edelman, New York City, of counsel.

Seward & Kissel, New York City, for defendant Bank of America; Eugene P. Souther, Anthony R. Mansfield, and Anthony C. J. Nuland, New York City, of counsel.

METZNER, District Judge:

Plaintiff seeks a preliminary injunction in a lawsuit which has its roots in alleged confiscatory actions taken by the Libyan government against foreign oil companies.

Plaintiff is a Texas corporation which obtained oil exploration concessions from the government of Libya in 1966. The Libyan Petroleum Law required that a banker's guarantee be furnished in favor of the Petroleum Ministry in the amount of 50,000 Libyan pounds for each...

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