Legal Opinion
Clarendon, Ltd. v. State Bank of Saurashtra
Court of Appeals for the Second Circuit
Decided February 23, 1996No. 101, Docket 95-7145PublishedCited by 5 opinions
1Opinion of the Court
LEVAL, Circuit Judge:
This appeal concerns an action brought by Clarendon, Ltd., as beneficiary of an unpaid letter of credit, against State Bank of Sau-rashtra (“SBS”), a governmental bank in India, and against Chase Manhattan Bank, N.A., as advising bank. SBS issued the letter of credit at the instance of its customer Saurashtra Steel Industries, Ltd. (“SSIL”), an Indian steel fabricator, to help finance SSIL’s purchase of a shipment of steel from Clarendon. The court granted SBS’s motion to dismiss under Fed.R.Civ.P. 19(b) & 12(b)(7) because it found SSIL, which was not subject to the…
2Cases cited8 opinions
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- Nasser Jaser v. New York Property Insurance Underwriting Association and Adriano FernandesCourt of Appeals for the Second Circuit · 1987
- Travelers Insurance v. Buffalo Reinsurance Co.District Court, S.D. New York · 1990
- In Re Integrated Resources Real Estate Ltd. Partnerships Securities LitigationDistrict Court, S.D. New York · 1994
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