Article

Note: Wachovia Bank (Issuer) issued an LC in favor of Massachusetts Connection, Inc.(Beneficiary). The LC had expired by its own terms without Beneficiary drawing on it. Beneficiary subsequently filed a complaint asking the court for a declaratory judgment declaring that the LC remained in full force without setting forth any facts to support its claim. Issuer moved for summary judgment.

The Superior Court of Connecticut, Langebach C.J, granted Issuer's motion for summary judgment.

The court concluded that the LC had expired by its own terms without Beneficiary drawing on it and that Beneficiary had alleged no facts to support its claim that the LC remained in full force.

[JEB/az]

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