Chinese Banks Say They Aren't On Hook For Fake Nikes

Law360 (September 2, 2020, 12:59 PM EDT) -- A number of Chinese banks are urging the Second Circuit to reject a potential $150 million fine over allegations that they enabled the sale of counterfeit Nike and Converse products by refusing to comply with American court orders, calling it an "extreme penalty."

In a brief filed Tuesday, the Bank of China and four others asked the appeals court to affirm a January ruling that said such a fine would "gut" long-standing rules on how American courts interact with foreign banks.

Next Investments, a hedge fund seeking the fine after failing to collect on a $1.8 billion judgment over the fake...

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