Marshall Fishman Timothy Harkness

June 08, 2016 | New York Law Journal

Marshall Fishman, Timothy Harkness and David Y. Livshiz write that two recent Southern District decisions, taken together, create a risk that a foreign financial institution engaging in a dollar-denominated transaction anywhere in the world may wind up having to litigate claims arising out of those transactions in the United States, solely based on the fact that they were executed in dollars and involved U.S.-based correspondent bank accounts. This result is not only unprecedented, but conflicts with Supreme Court guidance.

By Marshall Fishman, Timothy Harkness and David Y. Livshiz

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