Civil Procedure International Trade Finance & Banking

Read Civil Procedure updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

NY Court of Appeals Finds Personal Jurisdiction Based on Use of NY Correspondent Bank Accounts

A sharply divided New York Court of Appeals recently held that defendants who allegedly made intentional and repeated use of New York correspondent bank accounts for money laundering thereby purposefully transacted business...more

New York Court of Appeals Finds 'Repeated, Deliberate Use' of Correspondent Account Sufficient to Establish Personal Jurisdiction...

In a decision that has implications for non-U.S. financial institutions with correspondent accounts in New York, a closely divided New York Court of Appeals held on November 22, 2016, that the “[r]epeated, deliberate use [of...more

Your Daily Dose of Financial News

Even as auto lending continues at near break-neck pace, regulators are expressing concerns about the rise (again) of subprime delinquencies from borrowers. The trend, at a time when the US economy is doing relatively well,...more

A First of its Kind—QFC Judgement Successfully Enforced by the Qatar Central Bank

On 4 August 2016, the Civil and Commercial Court of the Qatar Financial Centre First Instance Court (QFC Court) issued a judgment, which was subsequently enforced by the Qatar Central Bank (QCB), without the need for court...more

Clarity on Clawback Claims in Cayman

The Cayman Islands Court of Appeal recently smoothed the path for Cayman liquidators to pursue clawback claims. The decision clarifies the Cayman courts’ approach to voidable preference payments, making it easier for Cayman...more

The World in US Courts: Orrick's Quarterly Review of Decisions Applying US Law to Global Business and Cross-Border Activities

Alien Tort Statute (ATS)/Torture Victims Protection Act (TVPA)/Anti-Terrorism Act (ATA) - District Court Dismisses ATS Claim Where Alleged Conduct in US Was Not Directly Linked to Injuries Claimed in Other Countries...more

Significant Swiss ruling handed down on privilege in anti-money laundering investigations

In a recent judgment, the Swiss Federal Tribunal has ruled that, where a financial institution delegates its investigation and reporting obligations under the Swiss Anti-Money Laundering Act ("AMLA") to external counsel,...more

First Enforcement of a QIC Judgment in the State of Qatar

In a landmark case (Protech) last week, a judgment of the Qatar International Court ("QIC") has been successfully enforced by the courts of the State of Qatar....more

Brexit Produces New Problems for Enforcing Judgments in Europe

In a highly integrated economy like Europe’s, cross-border litigation is common. Oftentimes, a suit may be brought in a court in one EU country against a defendant with assets in many EU countries, so that a judgment from...more

The Senior Managers Regime – should GCs be worried?

In March this year the PRA and the FCA introduced the Senior Managers Regime (‘SMR’) for individuals associated with banks and PRA regulated investment firms (from 2018 the SMR will apply to all UK authorised firms). The...more

Second Circuit Highlights Bank Regulators' Actions in Weighing Alien Tort Statute Claims

In Licci v. Lebanese Canadian Bank, the Second Circuit reaffirmed its prior rulings that international law does not recognize corporate liability for crimes under international law, and so dismissed claims by foreign...more

Hanjin Shipping Co., Ltd: Liquidation or a Different Path?

On September 1, 2016, a rehabilitation procedure was commenced in the Seoul Central District Court in respect of Hanjin Shipping Co., Ltd (Hanjin). This action followed many months of discussions between Hanjin and its...more

Refinancing loans and valuations

Liability for a negligent valuation relied upon by a lender in refinancing a pre existing loan facility would not be limited to any new funds advanced but extend to the entire refinanced facility. Had there not been a...more

Currency fluctuations and Part 36 offers to settle

Novus Aviation Ltd v Alubaf Arab International Bank BSC(c) [2016] EWHC 1937 (Comm) is relevant when unforeseen fluctuations in the currency exchange rate between the time of a Part 36 offer and the time of judgment affect...more

Secured creditors may vote during receivership upon reduction of secured claims

On 25 July 2016, the White & Case team obtained, at the Supreme Court of the Russian Federation (the "Supreme Court"), a declaration that a secured creditor has the right to reduce, at its discretion, the amount of a secured...more

New York Appellate Court Reverse Lower Court, Allows RMBS Action to Proceed Against Morgan Stanley

On August 11, 2016, the First Department of the Appellate Division of the Supreme Court of the State of New York reversed the lower court, allowing RMBS Trustee U.S. Bank to proceed with claims against Morgan Stanley in...more

Orrick's Financial Industry Week in Review

Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more

Court of Justice of the European Union Confirms Validity of the European Commission’s 2013 Banking Communication on State Aid

In its judgment of 19 June 2016, the Court of Justice of the European Union confirmed that the European Commission’s 2013 Banking Communication is not contrary to EU law. The Court clarified that the burden-sharing...more

Russian Legislation Update: 9 May - 17 July 2016

Welcome to the most recent issue of our Russian Legislation Update, covering the period of 9 May - 17 July 2016. In this issue: - Civil relations - Currency Control - Anti-Money Laundering - Banking -...more

This Week In Securities Litigation

The Commission settled another FCPA action centered on the efforts of a Chilean airline to resolve its labor issues. The agency also filed four offering fraud actions: one based on an internet fraud; a second centered on the...more

Brexit: Brexit and loan agreements

Summary – the key things you need to know - - The Brexit vote is likely to have little immediate legal impact on most current finance agreements. It would be unlikely, for example, that a lender could call a typical...more

German Employee's Dismissal at U.S. Regulator's Behest Ruled Invalid

On July 13, 2016, the Frankfurt Higher Labor Court held the dismissal of an employee in response to demands by the New York State Department of Financial Services (NYDFS) was invalid. (Frankfurt Labor Court, 18 Sa 1498/15)....more

English jurisdiction agreement in bond prospectus: does it bind a secondary market purchaser?

The Court of Justice of the European Union (CJEU) has considered the circumstances in which an English jurisdiction clause contained in a prospectus concerning the issue of bonds might be enforceable against a purchaser of...more

UK financial sanctions: bank cannot claim for subsidiary’s losses

Bank Mellat v HM Treasury [2016] EWCA Civ 452, 10 May 2016 - The Iranian bank, Bank Mellat, whilst having had recent success challenging EU sanctions before the Court of Justice for the European Union (CJEU), is having...more

Liability for breach of obligations

Resolution of the Plenum of the Supreme Court of the Russian Federation No. 7 dated 24 March 2016 'On courts applying certain provisions of the Civil Code of the Russian Federation concerning liability for a breach of...more

545 Results
|
View per page
Page: of 22

Follow Civil Procedure Updates on:

JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×