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BANCO NACIONAL DE DESARROLLO v. MELLON BANK, N.A.

Nos. 83-5247, 83-5272.

726 F.2d 87 (1984)

BANCO NACIONAL DE DESARROLLO v. MELLON BANK, N.A., Appeal of BANCO NACIONAL DE DESARROLLO, in No. 83-5247. Appeal of MELLON BANK, N.A., in No. 83-5272.

United States Court of Appeals, Third Circuit.

Decided January 18, 1984.

Rehearing and Rehearing Denied February 13, 1984.

Attorney(s) appearing for the Case

James H. McConomy, Eric A. Schaffer (argued), Michael E. Lowenstein, Reed, Smith, Shaw & McClay, Pittsburgh, Pa., for Mellon Bank, N.A.

Richard B. Tucker, III (argued), Tucker, Arensberg, Very & Ferguson, P.C., Pittsburgh, Pa., for Banco Nacional de Desarrollo.

Before GIBBONS, SLOVITER, Circuit Judges, and CALDWELL, District Judge.

Rehearing and Rehearing In Banc Denied February 13, 1984.

OPINION OF THE COURT

SLOVITER, Circuit Judge.

The question in this appeal is whether Mellon Bank, issuer of a letter of credit, wrongfully dishonored a request for payment from a Nicaraguan bank, Banco Nacional de Desarrollo. On cross motions for summary judgment, the district court held that payment was required. We reverse the judgment of the district...

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