Creaciones Con Idea, S.A. v. MashreqBank PSC

OPINION ON MOTION TO DISMISS

MOTLEY, District Judge.

Each of the plaintiffs, Creaciones Con Idea, S.A. de C.Y. (hereinafter, “Crea-ciones”) and Imagen Textil y Confecciones, S.A. de C.V. (hereinafter, “Imagen”), was a beneficiary of an irrevocable letter of credit (hereinafter, “ILC”) issued by defendant MashreqBank. 1 Under those ILCs, plaintiffs made payment demands that defendant rejected, asserting that plaintiffs provided inadequate documentation for those demands. Plaintiffs allege that defendant wrongfully refused the demands, in breach of the ILCs and with fraudulent intent. Defendant…