When a debtor files for bankruptcy relief in the federal bankruptcy court, does the debtor have access to letters of credit?

Whatever the state law of letters of credit may be, it does not function in a vacuum of commercial credit rights. When the debtor filed for relief in the federal bankruptcy court, the jurisdiction and applicable law governing the debtor automatically expanded to include the federal law of bankruptcy. Where there is conflict, the federal scheme governs. Jones v. Rath Packing Co., 430 U.S. 519, 97 S.Ct. 1305, 51 L.Ed.2d 604 (1977); In re Cohn, 7 B.R. 223 (1980); In re Gunder, 8 B.R. 390 (1980).