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IN RE WISCONSIN BARGE LINE, INC.

Bankruptcy No. 86-00016(SE), Adv. No. 86-0017(SE).

63 B.R. 40 (1986)

In re WISCONSIN BARGE LINE, INC., et al, Debtors. WISCONSIN BARGE LINE, INC., et al, Plaintiffs, v. INSURANCE COMPANY OF NORTH AMERICA, et al, Defendants.

United States Bankruptcy Court, E.D. Missouri, Southeastern Division.

May 29, 1986.

Attorney(s) appearing for the Case

Gregory D. Willard, Carl J. Spector, St. Louis, Mo., for debtors.

Barry S. Schermer, Clayton, Mo., for Creditors' Committee.

Janet L. Reed, James M. Lawniczak, Elkhart, Ind., Randall Martin, St. Louis, Mo., for INA.

MEMORANDUM OPINION

DAVID P. McDONALD, Bankruptcy Judge.

INTRODUCTION

Article 5 of the Uniform Commercial Code concerning letters of credit provides that under limited circumstances the customer may enjoin the issuer of a letter of credit from honoring a draft or demand for payment presented to it by the beneficiary. In the instant case, the customer, a debtor under Chapter 11, and its creditors' committee, are seeking such an injunction from this...

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