Lawyers from Quinn Emanuel Urquhart & Sullivan saved the day for a bank accused of money laundering, securing a last-minute injunction that stopped draconian penalties from taking effect Friday.
It was the equivalent of winning a stay of execution for FBME Bank Ltd., a Tanzanian-chartered commercial bank that operates mainly in Cyprus. The bank would have been prevented from doing business in the United States or in U.S. dollars—effective excommunication from the global financial system.
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