LIBYAN ARAB FOREIGN BANK v. MANUFACTURERS HANOVER TRUST CO. (NO. 2)

[1989] 1 Lloyd's Rep. 608

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr. Justice Hirst

Banking - Proper law - Plaintiffs claimed repayment of moneys in account with defendants’ London branch - Defendants alleged payment blocked by U.S. Executive Order - Whether London account governed by New York law - Whether arrangements terminated - Whether plaintiffs entitled to judgment against defendants - Whether defendants entitled to counterclaim.