Court Decision, New NY Bill Imply Koehler Scale-Back

Law360, New York (June 27, 2013, 10:03 AM EDT) -- A recent New York Court of Appeals decision in October 2012 sets an outer limit on the scope of asset turnover jurisdiction under Koehler v. Bank of Bermuda.

The decision in Commonwealth of the Northern Marianas Islands v. Canadian Imperial Bank of Commerce holds that judgment creditors may not reach beyond the corporate boundaries of the in-state garnishee to compel turnover of assets held by foreign subsidiaries of the garnishee. Meanwhile, a bill has been introduced in the New York State Senate that would codify that...
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