Article

Lender Liability.

Note:

The U.S. District Court for the Southern District of New York denied summary judgment to the Bank of India in an action by a borrower for breach of an agreement to establish a US$ 110,000 credit facility to satisfy guarantees of LCs. The court granted summary judgment for claims based on promissory estoppel, fraudulent and negligent misrepresentation, intentional interference with a business relationship, and tort but denied it as to counts based on contract and implied duty of good faith and fair dealing.

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