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Expert Analysis

Banks No Longer Have Free Passes To New York Courts

Law360, New York (June 4, 2014, 4:47 PM EDT) -- The New York Court of Appeals' recognition nearly 40 years ago in J. Zeevi & Sons Ltd. v. Grindlays Bank (Uganda) Ltd., 37 N.Y.2d 220, 371 N.Y.S.2d 892, 333 N.E.2d 168 (1975) that New York was a "financial capital of the world" that therefore had an interest in litigation arising from international banking transactions involving U.S. dollars has led many New York courts to exercise an expansive jurisdictional reach over international transactions that pass through New York's banking system....

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