2nd Circ. Rules Wire Transfers To US Don't Confer Jurisdiction
By Cara Salvatore ( September 4, 2014, 2:51 PM EDT) -- The Second Circuit on Thursday said Thor United Corp. cannot be held liable in the U.S. for the alleged concealment of $40 million worth of poor real estate investments that harmed a Russian client, because a wire transfer to a New York bank doesn't count as a "transaction" that would yield jurisdiction under a U.S. Supreme Court territoriality test....
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