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BANCO BRASILEIRO v. DOE

36 N.Y.2d 592 (1975)

Banco Frances E. Brasileiro S. A., Appellant, v. John Doe No. 1, Respondent, et al., Defendants. Martin E. Silfen, Respondent.

Court of Appeals of the State of New York.

Decided May 8, 1975.

Attorney(s) appearing for the Case

Donald N. Dirks, Philip C. Potter, Jr. and Mark L. Austrian for appellant.

Martin E. Silfen, P.C., and Stephen Gillers for John Doe No. 1, respondent.

Herman E. Cooper for Martin E. Silfen, respondent.

Chief Judge BREITEL and Judges GABRIELLI, JONES, FUCHSBERG and COOKE concur with Judge JASEN; Judge WACHTLER dissents and votes to affirm in a separate opinion.

JASEN, J.

The principal question before us is whether a private foreign bank may avail itself of the New York courts in an action for damages for tortious fraud and deceit and for rescission of currency exchange contracts arising from alleged violations of foreign currency exchange regulations.

Plaintiff, a private Brazilian bank, brings this action for fraud and deceit, and conspiracy to defraud and...

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