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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.

Second Circuit Hands Government a Major Setback in LIBOR Fraud Case

by Bryan Cave on

On July 19, 2017, the United States Court of Appeals for the Second Circuit issued a decision that could impact prosecutions of corporate employees that result from multi-jurisdictional investigations, such as those involving...more

Governance & Securities Law Focus: Europe Edition - July 2017

by Shearman & Sterling LLP on

In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates. Please see full Newsletter below for more...more

Legal Professional Privilege in Regulatory Investigations under Fire

by Morgan Lewis on

A recent English High Court decision has potential implications for the protections afforded by legal privilege in Singapore to companies in civil or criminal proceedings brought by regulatory agencies....more

Second Circuit Clarifies Class Certification Requirements in Significant Securities Class Action Decision

On July 7, 2017, the U.S. Court of Appeals for the Second Circuit offered significant guidance regarding the circuit’s class certification requirements in In re Petrobras Securities, No. 16-1914. In addressing an issue of...more

What can we learn from the first half of 2017?

by Dentons on

Court decisions - Whilst a number of cases in the first six months of 2017 dealt with issues of particular interest to litigators (e.g. LBI EHF v. Raiffeisen on default provisions and service by fax, BPE Solicitors v....more

Comfort in consistency – Dexia Crediop S.P.A. v. Comune di Prato [2017] and international use of the ISDA Master Agreement

by Dentons on

The Court of Appeal has reversed a judgment of the Commercial Court which had worrying implications for banks concluding international transactions using standard form ISDA documentation (and, by implication, other standard...more

European Court of Justice awards credit institutions home-field advantage

by DLA Piper on

There was some uncertainty as to what court is competent to hear disputes relating to credit agreements. On 15 June 2017 the European Court of Justice resolved this uncertainty by setting useful and practically applicable...more

Latin America Dispute Resolution Update – The Latest Developments in Cross-Border Disputes Involving the US and Latin America

The Continuing Rise of Chinese Investment in Latin America - Chinese investment and transactions in Latin America exceeded US$125 billion in the last decade, and China is expected to continue to be a key player in Latin...more

Dutch Court Denies Approval of Collective Settlement Unless Changes Are Made as to Allocation of Compensation and Fees

The Amsterdam Court of Appeal denied approval of the €1.204 billion collective settlement of former Fortis (now Ageas) shareholders’ claims unless the parties agree to restructure the allocation of the settlement amount among...more

Removing the limits - a new class of real estate investment vehicle

by Hogan Lovells on

UK limited partnerships have been go-to investment vehicles for United Kingdom real estate for many years. Their attraction lies principally in their tax transparency, contractual flexibility and the limited liability...more

Capacity of state to contract

by Allen & Overy LLP on

A political battle between Russia and Ukraine has ended up before the English courts, in the context of a dispute over repayment of Eurobonds issued by Ukraine. The decision in The Law Debenture Trust Corporation plc v...more

Foreign Representative Had "Independent" Standing to Prosecute State Law Avoidance Claims in Chapter 15

by Jones Day on

If a foreign debtor is eligible to file for bankruptcy protection in the U.S., the debtor's foreign representative (e.g., a liquidator or administrator) may, under certain circumstances, have the power to avoid and recover...more

A “Death Sentence” for Financial Institutions: the D.C. Circuit Dismisses Andorran Bank Shareholders’ Challenge to FinCEN’s...

by Ballard Spahr LLP on

On May 23, the federal court of appeals for the District of Columbia Circuit rejected an appeal by the majority shareholders in Banca Privada d’Andorra S.A. (“BPA”) regarding claims that FinCEN violated the Administrative...more

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

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