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FRENCH AMERICAN BANKING CORP. v. FLOTA MERCANTE GRANCOLOMBIANA, S.A.

No. 83 Civ. 5095 (KTD).

609 F.Supp. 1352 (1985)

FRENCH AMERICAN BANKING CORPORATION, Plaintiff, v. FLOTA MERCANTE GRANCOLOMBIANA, S.A., and Fireman's Fund Insurance Company, Defendants.

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

April 29, 1985.

Attorney(s) appearing for the Case

Healy & Baillie, Cleary, Gottlieb, Steen & Hamilton, New York City, for plaintiff; Sirius C. Cook, James C. Blair, Joanne Zack, Loretta K. Davis, New York City, of counsel.

Hendler & Murray, P.C., New York City, for defendants Fireman's Fund Ins. Co.; Jerome Murray, Michael Maillet, New York City, of counsel.

MEMORANDUM & ORDER

KEVIN THOMAS DUFFY, District Judge:

Plaintiff, French American Banking Corporation ("FABC"), commenced this action to recover approximately $4 million plus interest due and payable to it for bills of lading for shipments of coffee issued by defendant Flota Mercante Grancolombiana, S.A. ("Flota"). Flota pledged these bills of lading to FABC in connection with amounts FABC loaned to Colombian Coffee Company ("Colombian"). When Colombian...

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