Legal Opinion
First National City Bank v. Banco Para El Comercio Exterior De Cuba
Supreme Court of the United States
Decided June 17, 1983No. 81-984PublishedCited by 584 opinions
1Opinion of the CourtJustice O’Connor
In 1960 the Government of the Republic of Cuba established respondent Banco Para el Comercio Exterior de Cuba (Bancec) to serve as “[a]n official autonomous credit institution for foreign trade . . . with full juridical capacity ... of its own . . . .” Law No. 793, Art. 1 (1960), App. to Pet. for Cert. 2d. In September 1960 Bancec sought to collect on a letter of credit issued by petitioner First National City Bank (now Citibank) in its favor in support of a contract for delivery of Cuban sugar to a buyer in the United States. Within days after Citibank received the request for collection,…
2Cases cited21 opinions
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- Banco Nacional De Cuba v. SabbatinoSupreme Court of the United States · 1964
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