The Impact Of US Lawsuits Against Non-US Banks

Law360, New York (December 13, 2012, 5:53 PM EST) -- 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 Nov. 20, 2012, holding that a Lebanese bank may be subject to personal jurisdiction in New York courts because the bank makes use of a correspondent bank account at a New York bank on behalf of a client where the legal claim is connected to the use of the correspondent account.

Second, in a separate case,...
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