Jurisco, Inc. v. Bank South, N.A.

Andrews, Chief Judge.

Jurisco, Inc. appeals from a court order directing the clerk of court to pay out $100,000 deposited with the court by Bank South in an interpleader action on proceeds due under a letter of credit. Jurisco claims the money should not have been paid pursuant to the letter of credit because American Bonding Company’s (ABC’s) attempt to draw on the entire letter of credit constitutes fraud and also because the deputy receiver who presented the letter of credit for payment was not an “authorized officer of the American Bonding Company,” as required by the terms of the letter…