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F.D.I.C. v. U.S. TRUST CO.

Civ. A. No. 92-10626-T.

793 F.Supp. 368 (1992)

FEDERAL DEPOSIT INSURANCE CORPORATION, as receiver for the Central Savings Bank, Plaintiff, v. UNITED STATES TRUST COMPANY and NCC Leasing, Inc., Defendants.

United States District Court, D. Massachusetts.

May 12, 1992.

Attorney(s) appearing for the Case

John W. Gahan, III, Roche, Carens & DeGiacomo, Boston, Mass., for plaintiff.

Edward A. Sokoloff, U.S. Trust Co., Boston, Mass., for defendant U.S. Trust Co.

Mark Niles Berman, David S. Rosenthal, Hutchins & Wheeler, Boston, Mass., for defendant NCC Leasing, Inc.

Mark Niles Berman, David S. Rosenthal, Hutchins & Wheeler, Boston, Mass., for counter-claimant NCC Leasing, Inc.

MEMORANDUM

TAURO, Chief Judge.

The United States Trust Company ("US Trust"), at the request of Central Savings Bank ("Central"), issued a letter of credit in favor of NCC Leasing, Inc. ("NCC"). The Federal Deposit Insurance Corporation ("FDIC"), as receiver for the now insolvent Central, seeks a preliminary injunction to prevent NCC from collecting under the letter of credit from US Trust. The issue raised by this dispute is the viability of a letter of...

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