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BANK OF NEW YORK v. AMOCO OIL CO.

No. 90 Civ. 1617 (CHT).

831 F.Supp. 254 (1993)

The BANK OF NEW YORK, Plaintiff, v. AMOCO OIL COMPANY, Defendant.

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

August 26, 1993.

Attorney(s) appearing for the Case

Saiber Schlesinger Satz & Goldstein, Newark, NJ (James H. Forte, Michael J. Geraghty, of counsel), for plaintiff.

Goldstein & Claxton, Washington, DC (Melvin Goldstein, Charles R. Claxton, of counsel), for defendant.

OPINION

TENNEY, District Judge:

The plaintiff Bank of New York ("BNY") brought this action in March of 1990 seeking damages incurred because the defendant, Amoco Oil Company ("Amoco"), allegedly wrongfully refused to turn over certain platinum to BNY. By the time BNY obtained the platinum, it was able to sell the metal only at a reduced price. BNY bases its rights to the platinum on holding certificates issued by Amoco, which were given to BNY as...

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