The Bank of Canton, Ltd. v. Republic National Bank of New York, Defendant-Third Party v. Sharp International Corp., Third Party

Republic National Bank of New York (“RNB”) appeals from an order of the District Court for the Southern District of New York entered on July 9,1980, by Judge Charles S. Haight, Jr. (1) granting summary judgment in favor of The Bank of Canton, Ltd. (“BC”) for damages based on RNB’s dishonoring of drafts presented upon a letter of credit issued by RNB, which BC had negotiated, and (2) denying RNB’s cross-motion for summary judgment. Jurisdiction is based on diversity of citizenship, 28 U.S.C. § 1332(a), and on 12 U.S.C. § 632, which confers federal jurisdiction over civil suits arising out of a…