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Copyright © International Chamber of Commerce (ICC). All rights reserved. ( Source of the document: ICC Digital Library )
1999 LC CASE SUMMARIES No. 98-00657, 1999 N.Y. App. Div. LEXIS 10614 (18 October 1999) [U.S.A.]
Topics:
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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