Midcontinent Express Pipeline, LLC v. Man Industries (INDIA), Ltd, Prime Pipe International, Inc., and the Bank of Tokyo-Mitsubishi UFJ, Ltd

OPINION

TRACY CHRISTOPHER, Justice.

This is an appeal from the judgment rendered after a nonjury trial in which the parties asserted claims for declaratory judgment, wrongful dishonor of a letter of credit, breach of contract, and breach of fiduciary duty. The claims at issue arose after a pipeline company contracted with a pipe manufacturer and the manufacturer’s agent to buy steel pipe and secured the obligation with a standby letter of credit issued by a bank. After the manufacturer failed to timely produce the pipe, the purchase agreement was modified several times to reduce the size of the…