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WEYERHAEUSER CO. v. ISRAEL DISCOUNT BANK OF NEW YORK

No. 92 Civ. 0431 (JGK).

895 F.Supp. 636 (1995)

WEYERHAEUSER COMPANY, Plaintiff, v. ISRAEL DISCOUNT BANK OF NEW YORK and Crestmanor Homes, Inc., Defendants.

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

August 15, 1995.

Attorney(s) appearing for the Case

David L. Goldberg, Brian Gallagher, Kronish, Lieb, Weiner & Hellman, New York City, for plaintiff.

David M. Posner, John P. McCahey, Hahn & Hessen, New York City, for defendant Israel Discount Bank of New York.

OPINION AND ORDER

KOELTL, District Judge:

This diversity case was brought by the plaintiff Weyerhaeuser Company ("Weyerhaeuser") alleging that the defendant Israel Discount Bank of New York ("IDB"), as advising bank under a letter of credit ("Letter of Credit" or "Credit") from non-party Bank Leumi Le-Israel ("Leumi"), failed to honor a partial assignment of proceeds to Weyerhaeuser made by defendant Crestmanor Homes, Inc. ("CHI"), the beneficiary of the...

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