Ordered that the order is affirmed, with costs.
In August 1985 the plaintiff caused Bankers Trust Company to establish an irrevocable letter of credit in favor of the "Republic Insurance Company c/o Pan Atlantic Group Inc." in the amount of $356,381.
On March 20, 1986 the plaintiff established another irrevocable letter of credit with the defendant Bank of America in favor of "Republic Insurance Company c/o Pan Atlantic Group Inc." also in the amount of $356...
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