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KUNTAL, S.A. v. BANK OF NEW YORK

No. 87 Civ. 8096 (JMW).

703 F.Supp. 312 (1989)

KUNTAL, S.A., Plaintiff, v. The BANK OF NEW YORK, Defendant.

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

January 13, 1989.

Attorney(s) appearing for the Case

Elizabeth Taylor, Connell & Taylor, New York City, for plaintiff.

Frank W. Hodgkinson, Legal Dept., Bank of New York, New York City, for defendant.

MEMORANDUM AND ORDER

WALKER, District Judge:

Currently before the Court are cross motions for summary judgment pursuant to Fed.R.Civ.P. 56. The parties agree that no material issues of fact remain and have stipulated to the essential underlying facts.

BACKGROUND

The relevant facts can be summarized in brief. On October 14, 1986, the Bank of New York ("the Bank") issued letter of credit no. I 23825 (the "LC") for the account of a New York...

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