The IAS Court, in granting summary judgment in favor of the Superintendent, properly determined that plaintiffs' rights under a Letter Agreement, dated January 4, 1990, establishing plaintiffs' line of credit, were not violated by defendants' failure to honor and refusal to extend the original expiration date of a letter of credit issued to Persico S.A., a Brazilian steel manufacturer. The IAS Court correctly found that plaintiffs have no standing as third-party beneficiaries...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
