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YOUNG-BAE PARK v. KREDIETBANK N.V.

271 A.D.2d 360 (2000)

707 N.Y.S.2d 80

YOUNG-BAE PARK et al., Appellants, v. KREDIETBANK N.V., Respondent.

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

Decided April 25, 2000.

The IAS Court appropriately exercised its discretion in dismissing the action pursuant to CPLR 327 (see, e.g., World Point Trading v Credito Italiano, 225 A.D.2d 153, 159). The genesis of the subject transaction was in Singapore, where the application for the original letter of credit and the decision to dishonor the letter of credit on the ground of forgery were made. Insofar as the crucial underlying issue in this litigation is...

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