New York High Court May Consider Whether Use of a New York Correspondent...
The US Court of Appeals for the Second Circuit recently issued a decision of substantial interest to the international banking and financial services community. That case, Licci v. Lebanese Canadian...
View ArticleNew York Federal District Court Orders Disclosure of Chinese Bank Records...
Judge Naomi Buchwald of the federal District Court for the Southern District of New York recently provided clarity on the scope of third-party bank discovery obligations with respect to materials...
View ArticleLehman Bankruptcy Court Holds That Pre-Petition Collateral Transfers and...
On April 19, 2012, the Lehman bankruptcy court handed down its decision on the long-pending motion to dismiss filed by JPMorgan Chase Bank, N.A., in response to Lehman Brothers Holdings Inc.’s $8.6...
View ArticleGrace Financial Drops Petition Against Penson Worldwide Unit
New York Litigation & Dispute Resolution partner Mark Hanchet quoted on Grace Financial Group LLC dropping a request for an injunction against a unit of Penson Worldwide Inc.
View ArticleCourt Rules that Blocked Electronic Fund Transfers Are Not Attachable under...
A recent decision in the Southern District of New York holds that blocked proceeds of electronic fund transfers (EFTs) held by banks are not subject to attachment in satisfaction of judgments on claims...
View ArticleSecond Circuit Permits Discovery of Overseas Assets, Creates Conflict with...
In EM Ltd. v. Republic of Argentina, No. 11-4065-cv(L), the US Court of Appeals for the Second Circuit addresses questions of sovereign immunity and third-party discovery that are of interest to the...
View ArticleNew York Court of Appeals to Consider Vast Expansion to Koehler: Turnover of...
The US Court of Appeals for the Second Circuit recently certified to the New York Court of Appeals two questions concerning the ability of a judgment creditor to garnish accounts of judgment debtors at...
View ArticleNew York Trial Court Reaffirms Separate-Entity Rule in Discovery Dispute
The recent decision by a New York State trial court in Ayyash v. Koleilat (N.Y. Sup. Ct., N.Y. County, Index No. 151471/2012 (Coin, J.)) contains important guidance on how lower-level New York State...
View ArticleNew York Court of Appeals Answers Questions on When Jurisdiction Can Be...
The New York Court of Appeals has confirmed that, while maintaining a correspondent banking account will not support the exercise of jurisdiction over a non-US bank in matters unrelated to the non-US...
View ArticleThe Edge Act Confers Federal Jurisdiction According to US District Court for...
A recent opinion from the Southern District of New York provides a reminder that the Edge Act (12 U.S.C. § 632) permits federally chartered banks to remove many cases to federal court. In Dexia SA/NV...
View ArticleBank Examination Privilege Set Aside by Southern District of New York
A recent decision in the Southern District of New York casts doubt on the protections afforded by the bank examination privilege in civil litigation.
View ArticleNew York Court of Appeals Issues Narrow Decision on Extraterritorial Asset...
A recent New York State Court of Appeals decision in a case that Mayer Brown reported on in October 2012 sets an outer limit on the scope of asset turnover jurisdiction under Koehlerv. Bank of Bermuda.
View ArticleCourt Decision, New NY Bill Imply Koehler Scale-Back
In a bylined article, Litigation & Dispute Resolution partners Mark Hanchet and Steve Wolowitz (both New York), Financial Services Regulatory & Enforcement partner Alex Lakatos (Washington, DC)...
View ArticlePresumption Against Extraterritoriality in Morrison v. National Australia...
US states On August 30, 2013, the US Court of Appeals for the Second Circuit ruled in United States v. Vilar that the presumption against extraterritoriality applies to federal criminal prosecutions...
View ArticleRecent TRIA Decision Could Ease Garnishment Burden
A recent decision from the US Court of Appeals for the District of Columbia Circuit is good news for banks facing an ongoing crush of garnishment litigation. The decision in Heiser v. Islamic Republic...
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