Mastercard continues to wage its battle to nullify a $2.8 million verdict after a jury found the credit card giant had wrongly converted a letter of credit the day after terminating its contract.
The jury awarded the company, International Card Co., the full amount of the draw down, finding that Mastercard had intentionally and inappropriately made the conversion. In a series of motions filed in the Southern District before Judge Lorna Schofield by Mastercard’s counsel, led by Ballard Spahr partner Jay Fastow, the credit card company seeks a motion of judgment as a matter of law, arguing that ICC failed to show that the draw down sum didn’t reflect monies owed to Mastercard.
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