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Lamda Solutions Corp. v. HSBC Bank USA, N.A.

Enforceable Agreement With Bank Not Pleaded in Brokering of Iron Ore's International Sale

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MEMORANDUM OPINION AND ORDER To help broker the sale of 80,000 metric tons of iron ore from Mexico to China, Plaintiff Lamda Solutions Corp. (“Lamda”) allegedly entered into a verbal agreement with Defendant HSBC Bank USA, N.A. (“HSBC”) whereby HSBC promised to facilitate the international transaction. Lamda alleges that HSBC broke its promise, causing Lamda to lose over $1 million in profits and other expenses. HSBC has moved to dismiss Lamda’s claims. Because Lamda failed to plead that HSBC entered into a binding agreement, HSBC’s motion to dismiss is GRANTED. I.BACKGROUND1 A. Facts Lamda is a New York company that operates as a broker. Complaint (“Compl.”), Dkt. No 1, Ex. B

1-2. Three months after opening a checking account with HSBC, Lamda informed the branch manager of HSBC’s Yonkers branch that Lamda had an opportunity to sell 80,000 tons of Mexican iron ore to China. Id.

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