Voest-Alpine Trading USA Corp. v. Bank of China

CLEMENT, Circuit Judge:

The Bank of China appeals an adverse judgment in its dispute with Voesh-Alpine Trading USA Corporation regarding the validity of a letter of credit. After conducting a bench trial, the district court concluded that the bank improperly refused payment on the letter and awarded Voest-Alpine damages and attorney’s fees. We affirm the district court’s judgment.

I. FACTS AND PROCEEDINGS

In June 1995, Jiangyin Foreign Trade Corporation (“JFTC”), a Chinese company, agreed to purchase 1,000 metric tons of styrene monomer from Voest-Alpine Trading USA Corporation (‘Voesb-Alpine”),…