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NAT. BANK & TRUST CO., ETC. v. J. L. M. INTERN.

No. 76 Civ. 1493 (GLG).

421 F.Supp. 1269 (1976)

NATIONAL BANK AND TRUST COMPANY OF NORTH AMERICA, LTD., Plaintiff, v. J. L. M. INTERNATIONAL, INC., et al., Defendants.

United States District Court, S. D. New York.

As Amended December 20, 1976.

Attorney(s) appearing for the Case

Finley, Kumble, Wagner, Heine, Underberg & Grutman, New York City, for plaintiff; Norman R. Grutman, Richard A. Rubin, and Jeffrey Daichman, New York City, of counsel.

Wien, Lane & Malkin, New York City, for defendant, J. L. M. International, Inc.; Robert G. Desmond, New York City, of counsel.

Kissam & Halpin, New York City, for defendants, Federal Republic of Nigeria Central Bank of Nigeria; James G. Simms, New York City, of counsel.

McHugh, Heckman, Smith & Leonard, New York City, for defendant, Interexporte, S.A.R.L.; Martin J. McHugh, Robert P. Whelan, New York City, of counsel.

OPINION

GOETTEL, District Judge.

This action results from a complex series of international commercial and financial transactions arising from an apparent attempt by Nigeria to corner the world's cement market. Following is a brief recitation of the relevant facts.1 On March 1, 1975, an agreement was reached by which the Federal Republic of Nigeria promised to purchase from J.L.M. International, Inc. ("J.L.M."), a Massachusetts...

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