MATTER OF SIEBERT


135 Misc.2d 1093 (1987)

In the Matter of the Application of Muriel Siebert, as Superintendent of Banks, for Approval of a Plan of Liquidation of the New York Branch of Banco de Intercambio Regional.

Supreme Court, New York County.

April 13, 1987


Attorney(s) appearing for the Case

Simpson, Thacher & Bartlett for Muriel Siebert. Davis, Polk & Wardwell for Banco Central de la Republica Argentine. Cleary, Gottlieb, Steen & Hamilton for Industrial National Bank and another.


EDWARD J. GREENFIELD, J.

The issue presented on this motion is whether creditors who have claims against a foreign bank can assert those claims against the assets of its New York branch bank which is in the hands of the New York State Superintendent of Banks for liquidation, and whether the funds in the hands of the liquidator are subject to attachment and execution.

On March 28, 1980, the authorization...

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