Crist v. J. Henry Schroder Bank & Trust Co.

MEMORANDUM & ORDER

WHITMAN KNAPP, District Judge.

In our Memorandum & Order of May 3, 1988, 693 F.Supp. 1429, familiarity with which is assumed, we granted plaintiff summary judgment against defendant J. Henry Schroder Bank on letters of credit that were issued, at third-party defendant Candon Syndicate N.Y.’s request, in favor of Transit Casualty Company, the insolvent insurance company for which plaintiff is the receiver. We also granted Candon’s motion for leave to add an “offset” claim against plaintiff for reimbursement of any amount recovered against Candon on the third-party claim which…