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International Trade Finance & Banking Civil Procedure

Read need-to-know updates, commentary, and analysis on International Trade issues written by leading professionals.

The World In U.S. Courts - Spring 2017

Cases discussed in this issue - Alien Tort Statute (ATS)/Torture Victims Protection Act (TVPA)/Political Question Doctrine/Foreign Sovereign Immunity Act (FSIA)/Act of State Doctrine - Court of Appeals Considers US...more

Litigation Funding and Its Implications for US and UK Insurers

by Sedgwick LLP on

Litigation funding is growing rapidly with the emergence of new funds and wealthy individuals willing to back cases in an ever-expanding number of jurisdictions, including in the US and the UK. It is enabling claims to be...more

Stuck in the middle without EU: UK courts grapple with Brexit uncertainty

by Hogan Lovells on

One of the UK Government's central objectives for Brexit is to bring an end to the jurisdiction in the UK of the Court of Justice of the EU ("CJEU"). A necessary implication of this objective is that, unless agreed otherwise...more

Bank Loses Stay of Court Judgment Upholding Broad FinCEN Discretion

by Ballard Spahr LLP on

“Sometimes, the third time really is the charm” wrote the District Court for the District of Columbia on April 14, 2017. In its opinion, the court upheld FinCEN’s imposition of the Patriot Act’s fifth special measure against...more

Top Four Trends From INSOL Sydney 2017

by Kobre & Kim on

On the heels of the recent INSOL Quadrennial Congress, which took place in Sydney, Australia, Kobre & Kim’s global bankruptcy and debtor-creditor disputes team joined colleagues from around the world to discuss developing...more

Investing in China Key Challenges and Mitigation Strategy

In early 2005, a subsidiary of listed Hong Kong and China Gas Company Limited (0003.HK) bought a controlling stake in a Chinese joint venture company. Initial payments were made, but then the audited financial statements...more

Weighing Corporate Liability under the Alien Tort Statute: What it Means for AML/CFT Controls

by Ballard Spahr LLP on

The Supreme Court granted certiorari on April 3 to decide whether Jordan-based Arab Bank may be liable for claims including allegations that its New York branch processed transactions for known terrorists. While the central...more

We Know What You Really Meant: Utah Court Holds that SEC Can Bring Extraterritorial Enforcement Action Based on Conduct or Effects...

A federal court in Utah recently held that the Securities and Exchange Commission may bring an enforcement action based on allegedly foreign securities transactions involving non-U.S. residents if sufficient conduct occurred...more

Alien Tort Case Development: The U.S. Supreme Court Will Review the Question of Corporate Liability

On Monday, April 3, the U.S. Supreme Court granted a petition for a writ of certiorari filed by plaintiffs in Jesner v. Arab Bank, No. 16-499. The case may once and for all determine whether companies are appropriate...more

The Hague Securities Convention – IV. What effect does the Hague Securities Convention have on perfection by filing?

The Convention does not affect perfection of a lien by taking physical possession of the securities. However, the Convention may affect perfection of a lien by filing, including the place where the security interest or other...more

EU Rosneft judgment clarifies bank transfers are not sanctioned "financial assistance"

by White & Case LLP on

On 28 March 2017, the Court of Justice of the European Union (CJEU) delivered its judgment in a case referred by the UK High Court in which Rosneft has challenged the validity of the EU's sanctions targeting Russia, as well...more

The Hague Securities Convention – II. What do these provisions accomplish?

The cited provisions are choice-of-law provisions that select the governing law for the intermediary account agreement, which under the Hague Securities Convention will then also dictate the governing law for other issues...more

Pursuing non-performing loans in the Middle East A key issue checklist for financial institutions

by DLA Piper on

With liquidity again becoming a serious concern in the region, we are witnessing a sharp uptick in the number of instructions from regional and international lenders relating to (i) regional borrowers failing to repay a loan;...more

Commercial Court confirms that asymmetric jurisdiction clauses may be exclusive for the purposes of EU law

by DLA Piper on

Asymmetric jurisdiction clauses - also known as one-sided or 'for the benefit' clauses - are common in international financial services agreements, but their validity under EU law has been questioned in recent years by the...more

Supreme Court defended secured creditor stating that premises in insolvency management shall be treated as being part of the...

by White & Case LLP on

In Russian insolvency procedures, it is quite common for third parties to try to exclude property from a debtor’s insolvent estate (konkursnaya massa) by claiming title to its real property in the absence of the registered...more

Investor Suits Follow in the Wake of Western Union Settlement of Money Laundering and Fraud Claims

by Ballard Spahr LLP on

On January 19, 2017, the Western Union Company (“Western Union” or the “Company”) entered into a deferred prosecution agreement (“DPA”) with the Department of Justice (“DOJ”), in which Western Union admitted to willful...more

The law of personal jurisdiction: A game changer for foreign banks involved in litigation in the U.S.

by Hogan Lovells on

Hogan Lovells partner Marc Gottridge is the co-head of our global financial services litigation practice. He represents some of the world's leading banks in major class actions, investigations, and commercial litigation in...more

Family breeds contempt: the expansion of the tort of conspiracy by unlawful means

by White & Case LLP on

The recent Court of Appeal decision in the long line of Ablyazov cases (Khrapunov v JSC BTA Bank1) has given contempt of court extra steel – being in contempt can constitute "unlawful means" in a tort claim for unlawful means...more

Roundup of upcoming cases and anticipated UK regulatory developments

by DLA Piper on

Cases to watch- Wall v RBS – is the bank entitled to an order requiring Mr Wall to identify the third party funder funding his case so that the bank can make an application for security for costs against the funder? Due...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Japan’s SoftBank hasn’t been shy about bold moves, but its most recent one—the decision to buy American PE giant Fortress Investment Group—is an especially big one. The deal is seen as bolstering SoftBank’s recently announced...more

The Lehman Administration Surplus and the High Court Ruling in Waterfall IIC

by White & Case LLP on

A recent UK High Court ruling in Lehman Brothers International (Europe) (In Administration) ("Lehman Waterfall IIC") considers the application of statutory interests on proven debts in an administration and in particular the...more

In Chinese Investment Treaties, Questions Arise on Who Qualifies for Protection

Despite recent criticism from some quarters concerning the use of investment treaties and free trade agreements, the Chinese investment treaty system remains firmly in place. Since 1982, the People's Republic of China (PRC)...more

"Possession or control" of Financial Collateral – Matter Number C-156/15

by White & Case LLP on

The Court of Justice of the European Union ("CJEU") has given its first ever ruling on the question of what constitutes "possession or control" of financial collateral for the purposes of the Financial Collateral Directive -...more

Stars Align As Second Circuit Limits Orion

by Polsinelli on

The Second Circuit recently reversed and remanded for further proceedings a S.D.N.Y decision dismissing claims asserted by POLSINELLI clients CBF Indústria de Gusa S/A, Da Terra Siderúrgica LTDA and several other Brazilian...more

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