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NYK LINE (NORTH AM.) INC. v. MITSUBISHI BANK, LTD.

171 A.D.2d 486 (1991)

NYK Line (North America) Inc., Respondent, v. Mitsubishi Bank, Ltd., Defendant, and American Motorists Insurance Company, Intervenor-Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

March 14, 1991

Plaintiff NYK Line (North America) Inc., a shipping company, commenced this action in an effort to enjoin payment by defendant The Mitsubishi Bank, Ltd. on its letter of credit in favor of defendant-intervenor American Motorists Insurance Company (Amico). Amico's right to draw on this instrument, to the extent that it exists at all, derives from its business dealings with NYK. Indeed, the underlying dispute herein is between NYK and Amico, and The Mitsubishi Bank is merely...

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