MTB Bank v. Federal Armored Express, Inc.

SAND, District Judge.

This action arises from the misdelivery of two shipments of gold by defendant Federal Armored Express (“Federal”) in May, 1993. On August 6, 1996, this Court granted summary judgment for plaintiff MTB Bank *228(“MTB”) on the issue of Federal’s liability. See MTB Bank v. Federal Armored Express, No. 93 Civ. 5594 (LBS), 1996 WL 445358 (S.D.N.Y. Aug. 6, 1996). Now before the Court is MTB’s motion for summary judgment as to damages. For the foregoing reasons, MTB’s motion is granted in part and denied in part.

I

BACKGROUND

MTB is a commercial bank which engages in the sale of…