In American Bell Int'l, Inc. v. Islamic Republic of Iran, 474 F.Supp. 420, 423-24 (S.D.N.Y.1979), the customer sought to enjoin the issuer from honoring a demand for payment under a letter of credit because a successor government had taken power after the letter of credit was executed. In rejecting this argument, the district court relied on the international law principle that a successor government succeeds to the contract rights of the predecessor government. Id. at 423.