Dibrell Brothers International S.A., Plaintiff-Counter-Defendant-Appellant v. Banca Nazionale Del Lavoro, Defendant-Counter-Claimant-Appellee

Dibrell Brothers International, S.A. (“Dib-rell”) brought this civil action against Banca Nazionale Del Lavoro (“BNL”) asserting several claims which arise out of BNL’s failure to confirm letters of credit issued in favor of Dibrell by an Iraqi bank. On cross-motions for summary judgment, the district court entered a judgment dismissing Dibrell’s claims. Dibrell appeals. We affirm in part and reverse in part.

I. FACTS AND PROCEDURAL HISTORY 1

Dibrell is a Swiss corporation in the business of buying and selling tobacco on the world market. In 1988, Dibrell had the opportunity to sell tobacco to…