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UNITED TECHNOLOGIES CORP. v. CITIBANK, N.A.

No. 79 Civ. 1192.

469 F.Supp. 473 (1979)

UNITED TECHNOLOGIES CORPORATION and United Technologies International, Inc., Plaintiffs, v. CITIBANK, N.A., Iranians' Bank and Telecommunication Company of Iran, Defendants.

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

March 23, 1979.

Attorney(s) appearing for the Case

Wachtell, Lipton, Rosen & Katz, New York City (Bernard W. Nussbaum, William C. Sterling, Jr., and Claude M. Tusk, New York City, of counsel), for plaintiffs.

Shearman & Sterling, New York City (Henry D. Harfield, Clarence W. Olmstead, Jr., Andrew S. O'Connor, and Mark P. Zimmett, New York City, of counsel), for defendant Citibank, N.A.

MEMORANDUM DECISION

GAGLIARDI, District Judge.

Plaintiffs United Technologies Corporation and United Technologies International, Inc. (hereinafter collectively "United") commenced this action in New York Supreme Court seeking to enjoin defendant Citibank, N.A. ("Citibank") from making payments on two letters of credit to defendant Iranians' Bank ("Iranians'"). The state court issued a temporary restraining order against Citibank's payment on March 5, 1979...

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