BANCO AMBROSIANO v. ARTOC BANK


62 N.Y.2d 65 (1984)

Banco Ambrosiano, S.p.A., Respondent, v. Artoc Bank & Trust Limited, Appellant.

Court of Appeals of the State of New York.

Decided May 10, 1984.


Attorney(s) appearing for the Case

Carl F. Goodman and Barry R. Satine for appellant.

Edward R. Korman, Franklin Feldman, Ronald A. Schwartz and James Falick for respondent.

Chief Judge COOKE and Judges JASEN, JONES, MEYER and SIMONS concur; Judge KAYE taking no part.


WACHTLER, J.

Plaintiff commenced this action by the attachment of approximately $8 million, representing the balance of defendant's account with its New York correspondent bank. Defendant's appeal, taken pursuant to leave granted by the Appellate Division, focuses primarily on the question of whether this attempted assertion of quasi-in-rem jurisdiction over defendant's property is consistent with due

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