De Smeth v. Bank of New York

MEMORANDUM DECISION

CHIN, District Judge.

This is an action to recover damages for an alleged breach of an irrevocable letter of credit issued by defendant Bank of New York (“BONY”) in favor of Dikarpa N.V. S.A. (“Dikarpa”), a company in liquidation pursuant to Belgian law. Defendant moves to dismiss or for partial summary judgment dismissing plaintiffs claim for anticipatory repudiation. For the reasons stated below, the motion is granted.

FACTS

Plaintiff is the curator for Dikarpa which, prior to its bankruptcy, was in the business of designing, manufacturing and selling leather garments. In…