Summit Insurance Co. of New York v. Central National Bank of Houston

COLEMAN, Chief Justice.

This is an appeal from a summary judgment granted in a suit involving an interpretation of a letter of credit issued, by Central National Bank of Houston (CNB) addressed to Summit Insurance Company of New York (Summit) on behalf of Shelter Insurance Corporation (Shelter).

In answer to a petition filed by CNB for a declaratory judgment interpreting the letter of credit, Thomas A. Harnett, Superintendent of Insurance of the State of New York, as liquidator of Summit Insurance Company of New York, filed an answer consisting of a general denial and a special answer asserting…