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Bracewell LLP

NY Expands Jurisdictional Reach Over Foreign Banks Using Correspondent Accounts

Bracewell LLP on

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

Proskauer - Minding Your Business

NY Court of Appeals Finds Personal Jurisdiction Based on Use of NY Correspondent Bank Accounts

Proskauer - Minding Your Business on

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...

Skadden, Arps, Slate, Meagher & Flom LLP on

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

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