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BANK OF TOKYO-MITSUBISHI TRUST COMPANY v. CAISSE NATIONALE DE CREDIT AGRICOLE

264 A.D.2d 362 (1999)

694 N.Y.S.2d 380

BANK OF TOKYO-MITSUBISHI TRUST COMPANY et al., Respondents, and URBAN FOOD MALLS, LTD., Intervenor-Respondent, v. CAISSE NATIONALE DE CREDIT AGRICOLE, Appellant.

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

Decided August 26, 1999.

Plaintiff and defendant are banks that provided a credit facility to intervenor-plaintiff The Urban Food Malls, Ltd. (Food Malls). The banks' rights and obligations among themselves were governed by an Interbank Agreement dated December 9, 1987. Plaintiff Bank of Tokyo-Mitsubishi Trust Company (Bank of Tokyo) acted as agent for the other banks in connection with the credit facility pursuant to the Interbank Agreement. It had authority under this agreement to enter into a...

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