HOUSTON CONTRACTING v. CHASE MANHATTAN BANK, N. A.

No. 80 Civ. 3441.

539 F.Supp. 247 (1982)

HOUSTON CONTRACTING COMPANY, Plaintiff, v. CHASE MANHATTAN BANK, N. A. and Bank Tejarat, Defendants.

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

May 4, 1982.


Attorney(s) appearing for the Case

Charles Cummings, Baker & McKenzie, New York City, for plaintiff.

Norman R. Nelson, James E. Clapp, Milbank, Tweed, Hadley & McCloy, New York City, for defendant Chase.

Greg A. Danilow, Kramer, Levin, Nessen, Kamin & Soll, New York City, for defendant Tejarat.


MEMORANDUM DECISION

GAGLIARDI, District Judge.

Plaintiff Houston Contracting Company ("Houston") commenced this diversity action against The Chase Manhattan Bank, N. A. ("Chase") and Bank Tejarat, an Iranian entity and the successor-in-interest to the Iranians' Bank, to recover $300,000 in damages due to the failure by Chase on November 11, 1979 to comply with Iranians' Bank's telexed instructions to transfer $300,000 to Houston. Houston and Chase have cross...

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