Mirabella v. Banco Industrial de la Republica Argentina

This is an action to recover $85,000,000 as damages for the cancellation in 1948 of six letters of credit issued to plaintiff’s assignor in 1948 to finance the establishment of an aluminum industrial complex in Argentina. The transaction was between the assignor, an Italian national residing in Italy, now deceased, and the defendant, an instrumentality of the Argentine government, and all of its incidents and performance were contemplated to occur either in Argentina or Italy. Jurisdiction over the defendant was obtained by means of a warrant of attachment.

Plaintiff admits that his assignor…