Legal Opinion
Ladenburg Thalmann & Co, Inc. v. Signature Bank
Appellate Division of the Supreme Court of the State of New York
Decided March 19, 2015No. 651982/13 13635PublishedCited by 4 opinions
1Opinion of the Court
OPINION OF THE COURT
Saxe, J.
This case presents the issue of whether a letter of credit that requires the originals of all documents to trigger payment can be satisfied by a true copy of one of the original amendments to the letter of credit.
Background
Defendant, Signature Bank, issued an irrevocable transferable standby letter of credit in the amount of $833,000 upon the application of nonparty law firm Arkin Kaplan LLP, for the benefit of plaintiff, Ladenburg Thalman Co. Inc. The letter of credit was issued as security for plaintiff, as sublandlord, to ensure payment by Arkin Kaplan, its…
2Cases cited9 opinions
- Bank of Cochin Ltd. v. Manufacturers Hanover Trust Co.District Court, S.D. New York · 1985
- United Commodities-Greece v. Fidelity International BankNew York Court of Appeals · 1985
- E & H Partners v. Broadway National BankDistrict Court, S.D. New York · 1998
- New Braunfels National Bank v. OdiorneCourt of Appeals of Texas · 1989
- BasicNet S.P.A. v. CFP Services Ltd.Appellate Division of the Supreme Court of the State of New York · 2015
4 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Matter of Doe v. Skidmore Coll.Appellate Division of the Supreme Court of the State of New York · 2017
- Kaplan v. Ladenburg Thalmann & Co., Inc.Appellate Division of the Supreme Court of the State of New York · 2019
- ProQuip Limited v. Northmark BankMassachusetts Appeals Court · 2023
- The Milky Whey, Inc. v. HSBC Bank USA, N.A.District Court, S.D. New York · 2024