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UNITED COMMODITIES-GREECE v. FID. INT'L BANK

99 A.D.2d 974 (1984)

United Commodities-Greece, Plaintiff, v. Fidelity International Bank, Appellant-Respondent; Pillsbury Company, Respondent-Appellant, and Trade Development Bank (France), Respondent, et al., Defendant

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

March 8, 1984

¶ In order to provide payment for two lots of United States yellow corn it was purchasing from the Pillsbury Company (Pillsbury) for resale to the Soviet Union and shipment to a Black Sea port, United Commodities-Greece (UCG) caused two letters of credit to be issued, one for $2,975,000 by Banque de la Mediterranee (Bank Med) for which Fidelity International Bank (Fidelity) was the confirming bank, and the other for a like amount by the Trade Development Bank (France...

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