HABIB BANK v. CONVERMAT CORP.


145 Misc.2d 980 (1990)

Habib Bank Limited, Appellant-Respondent, v. Convermat Corporation, Respondent-Appellant.

Supreme Court, Appellate Term, First Department.

January 25, 1990


Attorney(s) appearing for the Case

Dunn & Zuckerman, P. C. (Richard S. Last of counsel), for appellant-respondent. William H. Hecht and Jesse A. Hecht for respondent-appellant.

OSTRAU, P. J., PARNESS and McCOOE, JJ., concur.


Per Curiam.

Order entered October 7, 1988 modified by granting defendant's cross motion for summary judgment dismissing the complaint; as modified, order affirmed, with $10 costs to defendant-cross-appellant.

In this action plaintiff issuing bank sues to recover the proceeds of a letter of credit paid to defendant as beneficiary. Upon defendant's presentation of the requisite documents, plaintiff issued its draft...

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