Occidental Fire & Casualty Co. v. Continental Illinois National Bank & Trust Co.

BRIAN BARNETT DUFF, District Judge.

Judge John M. Cannella once wrote, with some authority, that letter of credit liability cases were “particularly appropriate for judicial resolution without trial because they present solely legal issues.” Bank of Cochin Ltd. v. Manufacturers Hanover Trust, 612 F.Supp. 1533, 1537 (S.D.N.Y.1985). For every rule there is an exception, however, and the parties to the letter of credit case before this court have found it — despite submitting cross-motions for summary judgment. Their work will narrow this dispute, but its ultimate disposition will depend on the…