Banco Nacional De Desarrollo v. Mellon Bank, N.A., Appeal of Banco Nacional De Desarrollo, in No. 83-5247. Appeal of Mellon Bank, N.A., in No. 83-5272

OPINION OF THE COURT

SLOVITER, Circuit Judge.

The question in this appeal is whether Mellon Bank, issuer of a letter of credit, wrongfully dishonored a request for payment from a Nicaraguan bank, Banco Na- cional de Desarrollo. On cross motions for summary judgment, the district court held that payment was required. We reverse the judgment of the district court.

I

The I.B.P. Corporation of Pittsburgh (“IBP”), an importer of meat from Central America, arranged for Mellon Bank to issue an irrevocable letter of credit in favor of Empresa Nicaraguensa de la Carne, Encar of Managua, Nicaragua…