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MERCHANTS NAT. BANK OF MOBILE v. UNITED STATES

No. 565-80C.

689 F.2d 181 (1982)

MERCHANTS NATIONAL BANK OF MOBILE v. The UNITED STATES.

United States Court of Claims.

September 8, 1982.

Attorney(s) appearing for the Case

Alan C. Christian, Mobile, Ala., for plaintiff; Brock B. Gordon, Mobile, Ala., attorney of record; Johnstone, Adams, May, Howard & Hill, Mobile, Ala., of counsel.

Allen C. Peters, Arlington, Va., with whom was Asst. Atty. Gen., J. Paul McGrath, Washington, D.C., for defendant; Carmen M. Shepard, Dept. of Justice, and J. Stephen Brophy, U.S. Coast Guard, Washington, D.C., of counsel.

Before FRIEDMAN, Chief Judge, SKELTON, Senior Judge, and NICHOLS, Judge.

ON CROSS-MOTIONS FOR SUMMARY JUDGMENT

FRIEDMAN, Chief Judge:

The plaintiff bank seeks to recover the unpaid balance under a contract by which the plaintiff's assignor, Concept National, Inc. ("Concept"), agreed to furnish goods to the government. The bank received the assignment as security for a loan it made to Concept to finance the transaction. The financing took the form of an international letter of credit. The goods were manufactured in Korea, and...

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