A Conversation with Rajiv Gupta on Asia Restructurings
What Are the Drastic Ramifications of the New York State Anti-Money Laundering Actions and Penalty Enforcement?
On January 13, 2023, the New York State Commercial Division issued a decision in Bangladesh Bank v. Rizal Commercial Banking Corp., et al., Index No. 652051/2020, that continued New York courts’ tendency to assert personal...more
When a debtor files for bankruptcy, it’s axiomatic that all creditors, wherever located, must immediately cease their efforts to collect on debts owed to them by that debtor, right? Not necessarily so, says the United States...more
The United States Supreme Court denied a petition for certiorari filed by six foreign banks that argued that U.S. courts lacked personal jurisdiction over them. (Lloyd’s Banking Group. PLC v. Schwab Short-Term Bond Market...more
The override of former President Trump's veto of the National Defense Authorization Act of 2021 resulted in the enactment of broad amendments to the US anti-money laundering regime. Among the amendments are provisions to...more
Second Circuit Raises Bar for US Jurisdiction Over Foreign Banks - Orrick litigators Robert Reznick, Stephen Foresta and Julie Gorchkova co-authored an article for Law360 that examines a closely-watched case relating to...more
Swiss pharma giant Novartis has issued a $3.9 billion cash bid to buy Advanced Accelerator Applications, a French company [and spinoff of the organization in charge of the Large Hadron Collider] known for producing...more
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
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
The New York Court of Appeals recently gave a leg-up to plaintiffs seeking to hale foreign banks before New York state courts, clarifying that the use of a New York-based correspondent account could, under certain...more
This issue of Skadden’s semiannual Cross-Border Investigations Update looks at Brexit’s impact on corporate crime and investigations, the U.S. DOJ’s increased use of forfeiture actions with international implications, current...more
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
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
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
The fight against sophisticated online schemes to sell counterfeit or otherwise illegal goods is being waged by increasingly focused efforts to identify responsible parties that may be sued in U.S. courts, and whose assets...more
Two recent developments in U.S. law may be of special interest to non-U.S. clients, especially foreign banks. First, the highest appellate state court in New York issued a decision on November 20, 2012 holding that a Lebanese...more