Kvaerner U.S., Inc. v. Merita Bank plc

—Order, Supreme Court, New York County (Helen Freedman, J.), entered on or about April 3, 2001, which denied plaintiffs motion to preliminarily enjoin defendant bank from honoring demand upon a certain letter of credit, unanimously affirmed, with costs.

Plaintiff has failed to support its allegation of fraud in the transaction underlying issuance of the subject letter of credit. The record does not demonstrate that defendant Equatorial Tonopah fabricated defects in the mine simply to justify the drawing down of the letter of credit. Indeed, plaintiffs own experts had issued reports detailing…