Canadian Transport Company, a Division of MacMillan Bloedel (Alberni) Limited v. Irving Trust Company

Plaintiff-appellant, Canadian Transport Company (“Canadian Transport”) appeals from the denial by the District Court of a preliminary injunction, seeking to restrain defendant-appellee Irving Trust Company (“Irving Trust”) from honoring any draft drawn under Irving Trust’s Irrevocable Letter of Credit No. 012556 (“Letter of Credit”), which authorized Lebanon Steel Mill Company (“Steel Mill”), of Tripoli, Lebanon, to draw on Irving Trust up to $225,-000 under certain conditions hereinafter described. The facts are quite complex and will be outlined only to the extent necessary to pass upon the…