This article addresses the insolvency of the letter of credit transaction's participants. In the first and second parts of a three-part article, which appeared in prior issues of The Banking Law Journal, the author discussed the insolvency of the beneficiary of the credit and the insolvency of...

This article addresses the insolvency of the letter of credit transaction's participants. In the first part of this three-part article, which appeared in a prior issue of The Banking Law Journal, the author discussed the insolvency of the beneficiary of the credit. This second part addresses the...

This article addresses the insolvency of the letter of credit transaction's participants. In this first part of a three-part article, the author discusses the insolvency of the beneficiary of the credit. The second part and third parts of the article, which will be featured in upcoming issues of...