District Court, S.D. New York August 15, 1995, 92 Civ. 0431 (JGK) (Weyerhaeuser Co. v. Israel Discount Bank of New York)

OPINION AND ORDER

KOELTL, District Judge:

This diversity case was brought by the plaintiff Weyerhaeuser Company (‘Weyer-haeuser”) alleging that the defendant Israel Discount Bank of New York (“IDB”), as advising bank under a letter of credit (“Letter of Credit” or “Credit”) from non-party Bank Leumi Le-Israel (“Leumi”), failed to honor a partial assignment of proceeds to Weyer-haeuser made by