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MORGAN GUAR. TR. CO. OF N.Y. v. REPUBLIC OF PALAU

No. 86 Civ. 0590 (RWS).

680 F.Supp. 99 (1988)

MORGAN GUARANTY TRUST COMPANY OF NEW YORK, Morgan Grenfell & Co., Limited, The Bank of Tokyo Limited, The Governor and Company of the Bank of Scotland and Orion Royal Bank, Limited, Plaintiffs, v. REPUBLIC OF PALAU, Defendant.

United States District Court, S.D. New York.

January 29, 1988.

Attorney(s) appearing for the Case

Jones, Day, Reavis & Pogue (Robert Layton, Barry R. Satine, of counsel), Wilson, Elser, Moskowitz, Edelman & Dicker (Robert B. Wallace, of counsel), New York City, for plaintiffs.

Reboul, MacMurray, Hewitt, Maynard & Kristol (Wayne A. Cross, Stephen J. Riegel, Stephen P. Falvey, of counsel), New York City, for defendant.

OPINION

SWEET, District Judge.

The Republic of Palau ("Palau") has moved pursuant to Rules 12(b)(1) and 12(b)(6), Fed.R.Civ.Pro. to dismiss the action asserted against it by plaintiffs Morgan Guaranty Trust, Morgan Grenfell, the Bank of Tokyo, the Bank of Scotland, and Orion Royal Bank (collectively "the Banks") on the ground that a joint resolution of Congress, enacted as Public Law No. 99-658, § 104(e), 48 U.S.C. § 1681 note (Supp.1987) (the...

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