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MIDDLE EAST BANKING v. STATE STREET BANK INTERN.

Nos. 680, 708, Dockets 86-7804, 86-7894.

821 F.2d 897 (1987)

MIDDLE EAST BANKING COMPANY, Plaintiff-Appellee, Cross-Appellant, v. STATE STREET BANK INTERNATIONAL, Defendant and Third-Party Plaintiff-Appellant, Cross-Appellee, v. CITIBANK, N.A. and Saudi American Bank, Al-Khobar, Third-Party Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided June 4, 1987.

Attorney(s) appearing for the Case

D. Richard Funk, Pittsburgh, Pa. (W. Gregg Kerr, Robert C. Zimmer, Eckert, Seamans, Cherin & Mellott, Pittsburgh, Pa., of counsel), for plaintiff-appellee, cross-appellant Middle East Banking Co.

Ira M. Millstein, New York City (Irwin H. Warren, Richard B. Friedman, Weil, Gotshal & Manges, New York City, of counsel), for defendant and third party plaintiff-appellant, cross-appellee State Street Bank Intern.

Henry Harfield, New York City (Donald L. Cuneo, Joseph F. Haggerty, Shearman & Sterling, New York City, of counsel), for third party defendant-appellee Citibank, N.A.

Richard F. Lawler, New York City (Michael S. Zetlin, Whitman & Ransom, New York City, of counsel) for third party defendant-appellee Saudi American Bank, AlKhobar.

John L. Warden, Melanie L. Cyganowski, Gail M. Inaba, Edward F. Duffy, New York City, of counsel, for amici curiae New York Clearing House Ass'n and Council on Intern. Banking, Inc.

Before PRATT, MINER and MAHONEY, Circuit Judges.

MINER, Circuit Judge:

State Street Bank International, defendant and third party plaintiff-appellant, appeals from a judgment entered in the United States District Court for the Southern District of New York (Owen, J.) in favor of plaintiff-appellee Middle East Banking Company ("MEBCO"). MEBCO claimed in the district court that State Street breached its contract of deposit with MEBCO. MEBCO sought recovery of one million dollars transferred by Citibank to MEBCO's...

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