New York Court of Appeals Extends Judgment - Creditor Laws to Assets Held in Foreign Banks

June 2009
Insolvency Notes
Nicole E. Erb, Frank Panopoulos, Francis A. Vasquez Jr.

DOWNLOAD PDF: New York Court of Appeals Extends Judgment - Creditor Laws to Assets Held in Foreign Banks

On June 4, 2009, the New York Court of Appeals issued a decision that provides judgment creditors new recourse against assets of judgment debtors held by foreign or out-of-state banks that are subject to personal jurisdiction in New York. This extraterritorial reach of the New York creditor process endorsed by the Court of Appeals has potentially disruptive consequences for banking relationships in New York and elsewhere.

---

This Newsletter is provided for your convenience and does not constitute legal advice. It is prepared for the general information of our clients and other interested persons. This newsletter should not be acted upon in any specific situation without appropriate legal advice and it may include links to websites other than the White & Case website.

White & Case has no responsibility for any websites other than its own and does not endorse the information, content, presentation or accuracy, or make any warranty, express or implied, regarding any other website.

This Newsletter is protected by copyright. Material appearing herein may be reproduced or translated with appropriate credit.

©2009 White & Case