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CANTRADE PRIVATBANK AG. ZÜRICH v. BANGKOK BANK PUBLIC COMPANY LTD.

256 A.D.2d 11 (1998)

681 N.Y.S.2d 21

CANTRADE PRIVATBANK AG. ZÜRICH, Respondent, v. BANGKOK BANK PUBLIC COMPANY LTD., Appellant.

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

Decided December 1, 1998.

We agree with the IAS Court's determination not to give effect to a Thai court order enjoining payment by defendant issuing bank to plaintiff advising bank under the subject letter of credit agreement, since reimbursement under the agreement was to take place in New York (see, Zeevi & Sons v Grindlays Bank [Uganda], 37 N.Y.2d 220, 226, cert denied 423 U.S. 866; Canadian Imperial Bank of Commerce v Pamukbank Tas,

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