FOREIGN VENTURE v. CHEM BANK


59 A.D.2d 352 (1977)

Foreign Venture Limited Partnership, Respondent, v. Chemical Bank et al., Appellants

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

November 10, 1977


Attorney(s) appearing for the Case

John G. Koeltl of counsel (Ralph L. McAfee, Richard S. Simmons, David O. Brownwood, Steven C. Schroer and Robert B. von Mehren with him on the brief; Cravath, Swaine & Moore and Debevoise, Plimpton, Lyons & Gates, attorneys), for appellants.

David C. L. Frauman of counsel (John J. Jerome with him on the brief; Milbank, Tweed, Hadley & McCloy, attorneys), for respondent.

Henry Harfield of counsel (Robert M. Rosenblith with him on the brief; Shearman & Sterling, attorneys), for Citibank, N. A., amicus curiae.

KUPFERMAN, J. P., LUPIANO and MARKEWICH, JJ., concur.


SILVERMAN, J.

Defendants appeal from orders of Special Term granting a preliminary injunction against payments under certain letters of credit, and denying defendants' cross motion to dismiss the complaint under CPLR 3211.

Plaintiff, an American partnership, wished to make arrangements for financing of its Australian affiliate, Venture Carpets PTY., Ltd. ("PTY"), by defendant Commercial Banking Company...

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