Supreme Merchandise Co. v. Chemical Bank

OPINION OF THE COURT

Sandler, J. P.

In an appeal from a judgment in favor of petitioner, Supreme Merchandise Co., Inc. (Supreme), in a proceeding pursuant to CPLR 6214 (d) to compel the delivery of certain funds alleged to have been the subject of two orders of attachment, the central issue presented is whether the interest of the beneficiary in an executory negotiable letter of credit constitutes under CPLR 6202 ”[a]ny debt or property against which a money judgment may be enforced as provided in section 5201”.

In a carefully considered opinion, in which it understandably relied on the analysis…