Red Rock Commodities, Ltd. v. Standard Chartered Bank

WOOD, Jr., Circuit Judge:

This diversity case was argued, by agreement of the parties, on cross motions for summary judgment, and by stipulation the district court was permitted to decide the case on the record as supplemented. This agreed procedure was intended to avoid any possible triable fact issues not otherwise resolvable by summary judgment.1 The case involves the interpretation of a loan agreement between plaintiff-appellant Red Rock Commodities, Ltd. (Red Rock) of Delaware, together with its Israeli associate, Olges Ltd., and defendant-appellee Standard Chartered Bank (Standard) of…