Legal Opinion
Erman v. Armco, Inc. (In Re Formed Tubes, Inc.)
United States Bankruptcy Court, E.D. Michigan
Decided August 30, 1984No. 19-30008PublishedCited by 10 opinions
1Opinion of the Court
OPINION
GEORGE BRODY, Bankruptcy Judge.
This matter is before the court on cross-motions for summary judgment.
Formed Tubes, Inc. (debtor) manufactured and sold tubing for industrial purposes. Armco, Inc. was a regular supplier of steel to Formed Tubes. To insure payment for all the steel to be delivered to Formed Tubes, Armco insisted that Formed Tubes have a bank issue two irrevocable letters of credit, with Armco, Inc. as the beneficiary. 1 Two such letters were issued by Michigan National Bank for $300,000 and $100,000 respectively. The debtor, in consideration of the issuance of the…
2Cases cited8 opinions
- Palmer Clay Products Co. v. BrownSupreme Court of the United States · 1936
- Swarts v. Fourth National BankCourt of Appeals for the Eighth Circuit · 1902
- In Re Santoro Excavating, Inc.United States Bankruptcy Court, S.D. New York · 1983
- Bachner v. RobinsonCourt of Appeals for the Second Circuit · 1939
- Pereira v. Hope (In Re 550 Les Mouches Fashions, Ltd.)United States Bankruptcy Court, S.D. New York · 1982
3 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Coco v. Eli Haddad Corp. (In Re Coco)United States Bankruptcy Court, S.D. New York · 1986
- In Re Powerine Oil Company, Debtor. Committee of Creditors Holding Unsecured Claims v. Koch Oil CompanyCourt of Appeals for the Ninth Circuit · 1995
- Erman v. Armco, Inc. (In Re Formed Tubes, Inc.)United States Bankruptcy Court, E.D. Michigan · 1985
- CEPA Consulting, Ltd. v. New York National Bank (In Re Wedtech Corp.)District Court, S.D. New York · 1995
- Gulf Oil Corp. v. Banque De Paris Et Des Pays-Bas (In Re Fuel Oil Supply & Terminaling, Inc.)District Court, S.D. Texas · 1987
5 more not listed; retrieve them via the Exa API.