Instituto Nacional De Comercializacion Agricola v. Continental Illinois National Bank & Trust Co.

MEMORANDUM OPINION AND ORDER

SHADUR, District Judge.

Instituto Nacional de Comercialización Agrícola (“Indeca”), a quasi-national corporation organized under Guatemalan law, has as part of its responsibility the purchase of foodstuffs and agricultural staples for the Guatemalan people on international markets. It sues a group of defendants for an allegedly fraudulent scheme in which Indeca was bilked of over $5 million in its attempted purchase of 6,000 metric tons of black beans that proved to be nonexistent. 1

Continental Illinois National Bank and Trust Company of Chicago (“Continental’) has…