Legal Opinion
B.E.I. International, Inc. v. The Thai Military Bank, Worthen National Bank of Arkansas, (Formerly Worthen Bank & Trust Company, n.a.)
Court of Appeals for the Eighth Circuit
Decided October 30, 1992No. 91-2935PublishedCited by 8 opinions
1Opinion of the Court
LOKEN, Circuit Judge.
Defendant Thai Military Bank (TMB) appeals a district court 1 judgment in favor of plaintiff B.E.I. International, Inc., declaring that TMB’s rights as beneficiary to an irrevocable standby letter of credit have expired. TMB argues that the issuing bank, defendant Worthen National Bank of Arkansas, wrongfully repudiated the letter of credit, thus giving TMB an action for wrongful dishonor. We affirm.
I
In September 1986, U.S.-based BEI agreed to produce and sell “hydra” rocket systems to the Royal Thai Army (RTA). To assure payment by RTA, TMB in Bangkok issued an…
2Cases cited7 opinions
- National Surety Corporation, a Corporation of the State of New York v. The Midland Bank, a Corporation of New JerseyCourt of Appeals for the Third Circuit · 1977
- Bank of Newport, a California Banking Corporation v. The First National Bank and Trust Company of Bismarck, a North Dakota CorporationCourt of Appeals for the First Circuit · 1982
- Consolidated Aluminum Corporation v. Bank of Virginia and Graf-Comm., Inc.Court of Appeals for the Fourth Circuit · 1983
- Consolidated Aluminum Corp. v. Bank of VirginiaDistrict Court, D. Maryland · 1982
- Universal Security Insurance v. RingSupreme Court of Arkansas · 1989
2 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Revlon Realistic, Inc. v. Las Americas Trust Co.Supreme Court of Puerto Rico · 1994
- Moog World Trade Corporation v. Bancomer, S.A. Boatmen's National Bank of St. LouisCourt of Appeals for the Eighth Circuit · 1996
- Molter Corp. v. Amwest Surety Insurance Co.Appellate Court of Illinois · 1994
- 3Com Corp. v. Banco De Brasil, S.A.District Court, S.D. New York · 1998
- AXA Assurance, Inc. v. Chase Manhattan BankNew Jersey Superior Court Appellate Division · 2001
3 more not listed; retrieve them via the Exa API.