Article

Reimbursement

Note: In an appeal from a trial court decision dismissing the issuer's action against the applicant and guarantor for reimbursement for payments made under an LC, the 2 nd Department of the Appellate Division of the Supreme Court of New York in a Memorandum opinion reversed and instated judgment and attorney's fees for the issuer, noting that the issuer was entitled to recover from the applicant and guarantor the amounts paid under the LC with interest and costs.

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