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U.S. MATERIAL SUPPLY, INC. v. KOREA EXCHANGE BANK

Civil No. 05-2605 (JBS).

417 F.Supp.2d 652 (2006)

U.S. MATERIAL SUPPLY, INC., Plaintiff, v. KOREA EXCHANGE BANK, and Keb N.Y. Financial Corp., as successor in interest to Korea Exchange Bank New York Branch, Defendants.

United States District Court, D. New Jersey.

February 27, 2006.

Attorney(s) appearing for the Case

Seth N. Broder, Scott Marcus, Marcus Broder Ahart P.C., Turnersville, NJ, for Plaintiff.

Hyun Suk Choi, James K. Haney, Wong Fleming, P.C., Princeton, NJ, for Defendant Korea Exchange Bank.

John M. Falzone, Colonia, NJ, and Robert J. Ansell, Jr. (Pro hac vice), Silverman, Perlstein & Acampora LLP, Jericho, NY, for Defendant KEB N.Y. Financial, Corp.

OPINION

SIMANDLE, District Judge.

This dispute arises from a letter of credit transaction between Defendant Korea Exchange Bank and Defense Procurement Agency, Ministry of National Defense of the Republic of Korea ("Republic of Korea"), identifying Plaintiff U.S. Material Supply, Inc., located in New Jersey, as the letter's beneficiary. Defendant KEB N.Y. Financial Corp. and Defendant Korea Exchange Bank...

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