GUANGZHOU CONSORTIUM DISPLAY PRODUCT v. PNC BANK

Civil Action No. 11-5-DLB-JGW.

924 F.Supp.2d 800 (2013)

GUANGZHOU CONSORTIUM DISPLAY PRODUCT COMPANY, LTD., et al., Plaintiffs v. PNC BANK, NATIONAL ASSOCIATION, et al., Defendants.

United States District Court, E.D. Kentucky, Northern Division, at Covington.

February 14, 2013.


Attorney(s) appearing for the Case

Todd J. Flagel , Allison Bisig Oswall , James Papakirk , Flagel & Papakirk LLC, Cincinnati, OH, Gregory W. McDowell , Gregory W. McDowell, P.S.C., Florence, KY, for Plaintiffs.

Byron E. Leet , Christopher Tyson Gorman , Cornelius E. Coryell, II , Rania Marie Basha , Wyatt, Tarrant & Combs, LLP, John Shannon Bouchillon , P. Blaine Grant , Hayden Craig & Grant PLLC, Louisville, KY, Alex Hood , Karl Geercken , Matthew Decker , Alston & Bird LLP, New York, NY, for Defendants.


MEMORANDUM OPINION AND ORDER

DAVID L. BUNNING, District Judge.

I. INTRODUCTION

This action primarily concerns a loan security instrument known as a "standby letter of credit." In this case, a Chinese bank loaned money to the wholly-owned Chinese subsidiary of a Kentucky corporation. To secure that loan, the Kentucky corporation obtained a standby letter of credit from an American bank. As explained below, the Chinese bank eventually demanded...

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