Legal Opinion
Wells Fargo Asia Ltd. v. Citibank, N.A.
District Court, S.D. New York
Decided May 28, 1987No. 84 Civ. 996 (WK)PublishedCited by 5 opinions
1Opinion of the Court
MEMORANDUM & ORDER
WHITMAN KNAPP, District Judge.
By this action, Wells Fargo Asia Limited (“Wells Fargo”) seeks to recover from Citibank, N.A. (“Citibank”) the balance concededly due on two one-million dollar time deposits (the “Deposits”) with Citibank’s Manila branch maturing respectively on December 9 and 10, 1983. Citibank declined payment on the maturity dates because of the existence of a Philippine governmental decree (“MAAB 47” or “the Decree”) which forbade the repayment of the principal of certain foreign currency obligations without prior approval of the Central Bank of the…
2Cases cited6 opinions
- Posadas v. National City BankSupreme Court of the United States · 1936
- Tillman v. National City Bank of New YorkCourt of Appeals for the Second Circuit · 1941
- Allied Bank International v. Banco Credito Agricola de CartagoCourt of Appeals for the Second Circuit · 1985
- Perez v. Chase Manhattan Bank, N. A.New York Court of Appeals · 1984
- Mirtha G. Fish Dunn and John S. Dunn and Waggoner Carr, Attorney General of the State of Texas v. The Bank of Nova ScotiaCourt of Appeals for the Fifth Circuit · 1967
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Ana Maria Edelmann v. The Chase Manhattan Bank, N.A.Court of Appeals for the First Circuit · 1988
- Wells Fargo Asia Limited v. Citibank, N.A.Court of Appeals for the Second Circuit · 1991
- Wells Fargo Asia Ltd. v. Citibank, N.A.District Court, S.D. New York · 1988
- Wells Fargo Asia Limited v. Citibank, N.A.Court of Appeals for the Second Circuit · 1988
- Wells Fargo Asia Ltd v. Citibank, NaCourt of Appeals for the Second Circuit · 1988