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  5. 767 F.Supp. 824 (1991)
 

AGRI EXPORT CO-OP. v. UNIVERSAL SAV. ASS'N

Civ. A. No. H-89-1193.

767 F.Supp. 824 (1991)

AGRI EXPORT COOPERATIVE, Plaintiff, and Bankers Trust Company, Plaintiff-in-Intervention, v. UNIVERSAL SAVINGS ASSOCIATION, Defendant, and Resolution Trust Corporation as Receiver for Universal Savings Association, Defendant-in-Intervention.

United States District Court, S.D. Texas, Galveston Division.

Amended Memorandum Opinion May 21, 1991.

Attorney(s) appearing for the Case

R. Allen Ashcraft, Jr., Harris & Westmoreland, Houston, Tex., for plaintiff.

Joseph A. Kral, Knippa & Kral, Houston, Tex., for plaintiff-in-intervention.

Mary Lou Leyh, Baker, Brown, Sharman & Parker, Houston, Tex., for defendant and defendant-in-intervention.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

HUGH GIBSON, District Judge.

This action was brought by the plaintiffs Agri Export Cooperative and Bankers Trust Company to enforce payment on a letter of credit issued by Universal Savings Association. The case was tried to the Court on March 26, 1991. The following Findings of Fact and Conclusions of Law are made pursuant to Fed.R.Civ.P. 52.

Findings of Fact

1. On February 14, 1986 James...

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