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OMEGA ENVIRONMENTAL INC. v. VALLEY BANK NA

No. 98-35731.

219 F.3d 984 (2000)

In re OMEGA ENVIRONMENTAL INC., a Delaware corporation, Debtor, Plaintiff-Appellant, v. VALLEY BANK NA, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Filed July 19, 2000.

Attorney(s) appearing for the Case

C. Keith Allred, Davis Wright Tremaine, Seattle, Washington, for the plaintiff-appellant.

Brian D. Lynch (argued) and Michael A. Padilla, Bishop, Lynch & White, Seattle, Washington, for the defendant-appellee.

Before: BROWNING, FLETCHER, and GOULD, Circuit Judges.

PER CURIAM:

Valley Bank issued an Irrevocable Standby Letter of Credit to Omega Environmental, Inc., in exchange for a promissory note payable to the Bank. The note was secured by a certificate of deposit ("CD"). The Bank received and honored a request for payment of the full amount of the Letter of Credit. The Bank later moved the bankruptcy court for an order terminating an automatic stay issued pursuant to 11 U.S.C. § 362 to permit it to enforce its right...

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