Middle East Banking Co. v. State Street Bank International

MINER, Circuit Judge:

State Street Bank International, defendant and third party plaintiff-appellant, appeals from a judgment entered in the United States District Court for the Southern District of New York (Owen, J.) in favor of plaintiff-appellee Middle East Banking Company (“MEBCO”). MEBCO claimed in the district court that State Street breached its contract of deposit with MEBCO. MEB-CO sought recovery of one million dollars transferred by Citibank to MEBCO’s account at State Street, which State Street subsequently, and without authorization, returned to Citibank. The district judge…