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WESTERN INTERN. FOREST PRODUCTS v. SHINHAN BANK

93 Civ. 7301 (MGC).

860 F.Supp. 151 (1994)

WESTERN INTERNATIONAL FOREST PRODUCTS, INC., Plaintiff, v. SHINHAN BANK, Defendant.

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

August 16, 1994.

Attorney(s) appearing for the Case

Seward & Kissel by M. William Munno, New York City, for plaintiff.

Sullivan, Donovan, Bond & Bonner by Thomas J. Bonner, New York City, for defendant.

OPINION

CEDARBAUM, District Judge.

Plaintiff was the beneficiary of an irrevocable letter of credit which defendant refused to honor. Both sides move for summary judgment under Fed.R.Civ.P. 56. For the reasons discussed below, defendant's motion is granted and plaintiff's motion is denied.

Background

The following facts are undisputed. In 1993, plaintiff Western International Forest Products, Inc. contracted to sell lumber...

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