New York Courts Continue to Assert Personal Jurisdiction over Foreign Banks
Saturday, February 4, 2023 On January 13, 2023, the New York State Commercial Division issued a decision in Bangladesh Bank v. Rizal Commercial Ban...
Saturday, February 4, 2023 On January 13, 2023, the New York State Commercial Division issued a decision in Bangladesh Bank v. Rizal Commercial Banking Corp., et al., Index No. 652051/2020, that continued New York courts' tendency to assert personal jurisdiction over foreign banks, even if their only relationship with New York is having correspondent bank accounts. In Bangladesh Bank, Judge Andrea Masley denied defendant Rizal Commercial Banking Corporation's ('RCBC') motion to dismiss the complaint pursuant to CPLR 3211(a)(7) and (8) and CPLR 327(a).