KOREA LIFE INS. v. MORGAN GUAR. TRUST CO. OF NY

No. 99 Civ.12175 AKH.

269 F.Supp.2d 424 (2003)

KOREA LIFE INSURANCE CO., LTD. and Morning GHory Investment (L) Limited, Plaintiffs, v. MORGAN GUARANTY TRUST COMPANY OF NEW YORK, Defendant.

United States District Court, S.D. New York.

July 1, 2003.


Attorney(s) appearing for the Case

John David Lovi, McDermott, Will & Emery, New York City, for Plaintiffs.

Robert H. Baron, Frederick AO Schwartz, Jr., Gravath, Swaine & Moore, LLP, New York City, for Defendant.


OPINION AND ORDER GRANTING SUMMARY JUDGMENT TO DEFENDANT, DISMISSING COUNTS ONE, TWO, THREE, FIVE, AND SIX; AND GRANTING SUMMARY JUDGMENT TO PLAINTIFFS ON COUNT FOUR

HELLERSTEIN, District Judge.

This is a case of disappointed expectations. It involves forward, one-year contracts in foreign currencies, elaborate hedges, and a substantial, unhedged risk of depreciation of one of the currencies, the Thai...

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