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PHIBRO DISTRIBS. v. FID. BANK

148 Misc.2d 498 (1990)

Phibro Distributors Corporation, Plaintiff, v. Fidelity International Bank, Defendant.

Supreme Court, New York County.

September 25, 1990

Attorney(s) appearing for the Case

Cahill Gordon & Reindel (Lawrence A. Silverman, Steven M. Lieberman and Adam Liptak of counsel), for plaintiff. Orlando Conseils, William M. O'Connor and Jeroen G. Luchtenberg for defendant.

DAVID B. SAXE, J.

Plaintiff Phibro Distributors Corp. (Phibro) moves for summary judgment on its complaint to recover additional moneys under a letter of credit issued by defendant. Defendant Fidelity International Bank (Fidelity) cross-moves for summary judgment dismissing the complaint on the grounds that plaintiff has already been properly paid under the letter of credit.

In November 1988, Phibro...

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