Legal Opinion
Wisconsin Barge Line, Inc. v. Insurance Co. of North America (In Re Wisconsin Barge Line, Inc.)
United States Bankruptcy Court, E.D. Missouri
Decided May 29, 1986No. 14-41003PublishedCited by 6 opinions
1Opinion of the Court
MEMORANDUM OPINION
DAVID P. McDonald, Bankruptcy Judge.
INTRODUCTION
Article 5 of the Uniform Commercial Code concerning letters of credit provides that under limited circumstances the customer may enjoin the issuer of a letter of credit from honoring a draft or demand for payment presented to it by the beneficiary. In the instant case, the customer, a debtor under Chapter 11, and its creditors’ committee, are seeking such an injunction from this Court. For the reasons stated below, the Court will not grant the injunction.
PROCEDURAL HISTORY
On January 13, 1986, Wisconsin Barge Line, Inc.…
2Cases cited3 opinions
- Northern Pipeline Construction Co. v. Marathon Pipe Line Co.Supreme Court of the United States · 1982
- In Re Pacor, Inc. v. John Higgins, Jr. And Louise HigginsCourt of Appeals for the Third Circuit · 1984
- Braucher v. Continental Illinois National Bank & Trust Co. (In Re Illinois-California Express, Inc.)United States Bankruptcy Court, D. Colorado · 1985
3Cited by6 opinions
- 18 Collier bankr.cas.2d 717, Bankr. L. Rep. P 72,183 in Re Titan Energy, Inc. National Union Fire Insurance Company of Pittsburgh, Pa. v. Titan Energy, Inc.Court of Appeals for the Eighth Circuit · 1988
- Pollner v. Connecticut Bank & Trust Co. (In Re Harbor Park Associates Ltd. Partnership)District Court, S.D. New York · 1990
- Gonzales v. AM Community Credit UnionCourt of Appeals of Wisconsin · 1989
- In Re General Development Corp.United States Bankruptcy Court, S.D. Florida. · 1991
- In Re Wisconsin Barge Line, Inc.United States Bankruptcy Court, E.D. Missouri · 1987
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