Legal Opinion
MRF Resources Ltd. v. Merchants Bank
New York Court of Appeals
Decided December 18, 1996PublishedCited by 5 opinions
1Opinion of the Court
*246OPINION OF THE COURT
Simons, J.
Galit Diamond, Inc., the third-party defendant in this action, has asserted a counterclaim against defendant The Merchants Bank of New York seeking to recover damages allegedly sustained when the bank delayed execution of a funds transfer to Galit’s diamond supplier in Israel. The delay occurred when Merchants wrongfully placed a hold on Galit’s bank account. Galit does not claim that it suffered any direct damages, only consequential damages due to the supplier’s subsequent refusal to conduct further business with it because of the delay. Supreme Court…
2Cases cited4 opinions
- Donmar Enterprises, Incorporated v. Southern National Bank of North Carolina, and Southern International CorporationCourt of Appeals for the Fourth Circuit · 1995
- Centre-Point Merchant Bank Ltd. v. American Express Bank Ltd.District Court, S.D. New York · 1996
- Quistgaard v. EAB European American Bank & Trust Co.Appellate Division of the Supreme Court of the State of New York · 1992
- Sheerbonnet, Ltd. v. American Express Bank, Ltd.District Court, S.D. New York · 1995
3Cited by5 opinions
- Eldor Contracting Corp. v. County of NassauAppellate Division of the Supreme Court of the State of New York · 2000
- Campbell v. Citibank, N.A.Appellate Division of the Supreme Court of the State of New York · 2003
- Golden Door V & I, Inc. v. TD BankAppellate Division of the Supreme Court of the State of New York · 2014
- Mrf Res. v. Merchs.New York Court of Appeals · 1996
- RESORT BNB INCORPORATED v. BRANCH BANKING AND TRUST COMPANYDistrict Court, D. New Jersey · 2024