Legal updates for: CPLR

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Second Circuit Ends "Doing Business" Test in New York for General Jurisdiction - The Court Adopts the "Essentially at Home" Test Limiting New York Courts’ General Jurisdiction Over Foreign Corporations

by Holland & Knight LLP on

... September 2014, the Second Circuit abrogated the nearly century-old "doing business" test used by New York courts in deciding whether general jurisdiction exists over foreign corporations. In Gucci America, Inc. v. Weixing Li,1 the Second Circuit applied the "essentially at home" test set forth in the U.S. Supreme Court's... more

New York Court of Appeals Reaffirms the Separate Entity Rule

by Akerman LLP on

... October 23, 2014, the New York Court of Appeals issued an opinion in Motorola Credit Corp. v. Standard Chartered Bank, --- N.E.3d ----, 2014 WL 5368774, 2014 N.Y. Slip Op. 07199 (N.Y. Oct. 23, 2014), reaffirming New York's "separate entity rule." This opinion will impact a judgment-creditor's ability to restrain assets and... more

Second Circuit Fails to See the Comity in Chapter 15

by Goodwin Procter LLP on

... Krys v. Farnum Place, the Second Circuit ruled that, in a Chapter 15 ancillary proceeding, a SIPA claim is within the territorial jurisdiction of the United States and its sale by the Foreign Representative must be subjected to review under Bankruptcy Code Section 363. In so holding, the court vacated an earlier decision of the Bankruptcy... more

A Check in the “Win” Column for Broker-Dealers!

by Wilson Elser on

... Second Circuit recently issued a single opinion for two cases [Goldman Sachs & Co. v. Golden Empire Sch. Fin. Auth., No. 13-797-cv (2d Cir. Aug. 21, 2014) and Citigroup Global Mkts. Inc. v. N.C.E. Mun. Power Agency, No. 13-2247-cv (2d Cir. Aug 21, 2014)], holding that a forum selection clause in a contract supersedes a broker-dealer’s... more