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Appeals Foreign Banks

Latham & Watkins LLP

UK Court Clarifies Important Issues Relating to Proprietary Interests in Trust Assets

Latham & Watkins LLP on

The Court of Appeal ruled that losing proprietary rights under foreign law could invalidate personal claims against third party recipients of trust assets. On 27 January 2022, the UK Court of Appeal unanimously dismissed...more

ArentFox Schiff

Don’t Bank on the Billions: Chinese Banks Appeal to Second Circuit in Effort to Dodge Fine for Failing to Help Enforce $1.8...

ArentFox Schiff on

The Bank of China and four other Chinese banks (the Banks) are urging the Second Circuit to reject a requested $150 million contempt sanction for allegedly perpetuating the sale of counterfeit Nike and Converse products by...more

Ballard Spahr LLP

D.C. Circuit Rules in Favor of Broad Reach of Patriot Act Subpoenas

Ballard Spahr LLP on

On August 6, the U.S. Court of Appeals for the District of Columbia kept in place $50,000-per-day fines on three Chinese banks—whose identities are redacted—for refusing to comply with subpoenas issued by the Department of...more

Dechert LLP

Restructuring and Insolvency Bulletin: Issue 4 - May 2018: If You Don’t Succeed in Anguilla, Should You Try Again in the US?

Dechert LLP on

Two United States Bankruptcy Judges for the Southern District of New York recently issued a joint opinion addressing common issues raised by motions to dismiss in two separate adversary proceedings – one pending before Judge...more

Orrick, Herrington & Sutcliffe LLP

2nd Circ. Raises Bar For US Jurisdiction Over Foreign Banks

On Feb. 9, 2018, the Second Circuit decided SPV Osus Ltd. v. UBS AG , affirming the dismissal of UBS AG and related and unrelated foreign financial management companies from litigation brought by alleged victims of the...more

Patterson Belknap Webb & Tyler LLP

Obtaining Jurisdiction in New York Courts through Repeated Use of Correspondent Bank Accounts

In the past, a foreign bank’s use of correspondent bank accounts in the United States to facilitate wire transfers has not necessarily given New York courts a sufficient basis for jurisdiction over the bank. But a recent 4-3...more

Morrison & Foerster LLP

Brexit Briefing: English Law Funding For European Banks In Focus As BES Creditors Left Behind… Again

The Court of Appeal has upheld the validity of Banco de Portugal’s exercise of its resolution powers, overturning last year’s decision of the High Court - The Facts - Readers familiar with this case will recall that...more

Proskauer - Minding Your Business

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

Skadden, Arps, Slate, Meagher & Flom LLP

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

Orrick, Herrington & Sutcliffe LLP

New Court Decisions Expose Non-U.S. Banks With U.S. Branches To New Risks Of Litigation In American Courts

Non-U.S. banks with branches in New York and elsewhere in the United States find themselves sued or otherwise exposed to judicial orders in American courts with regularity. The cases reflect the full range of U.S. legal...more

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