Legal Opinion
Hellenic Republic v. Standard Chartered Bank
Appellate Division of the Supreme Court of the State of New York
Decided September 19, 1995PublishedCited by 8 opinions
1Opinion of the Court
Order, Supreme Court, New York County (Walter Schackman, J.), entered January 26, 1995, which denied cross motions for summary judgment, unanimously affirmed, without costs.
In this action to recover damages for alleged wrongful dishonor of a standby letter of credit, the IAS Court, relying on the standard of strict compliance, properly held that the discrepancies in plaintiff’s letter of credit documents justified dishonor (United Commodities-Greece v Fidelity Intl. Bank, 64 NY2d 449). Even slight discrepancies in compliance with the terms of a letter of credit justify refusal to pay (Marino…
2Cases cited3 opinions
- United Commodities-Greece v. Fidelity International BankNew York Court of Appeals · 1985
- Datapoint Corp. v. M & I BANK OF HILLDALEDistrict Court, W.D. Wisconsin · 1987
- Alpargatas, S. A. v. Century Business Credit Corp.Appellate Division of the Supreme Court of the State of New York · 1992
3Cited by8 opinions
- Ladenburg Thalmann & Co, Inc. v. Signature BankAppellate Division of the Supreme Court of the State of New York · 2015
- Automation Source Corp. v. Korea Exchange BankAppellate Division of the Supreme Court of the State of New York · 1998
- Creaciones Con Idea, S.A. v. MashreqBank PSCDistrict Court, S.D. New York · 1999
- Imptex International Corp. v. HSBC Bank USA, N.A.Appellate Division of the Supreme Court of the State of New York · 2008
- Hellenic Republic v. Standard Chartered BankAppellate Division of the Supreme Court of the State of New York · 1997
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