SCHRODER BANK v. FOREIGN BANK


170 Misc.2d 294 (1996)

647 N.Y.S.2d 930

IBJ Schroder Bank & Trust Company, Plaintiff, v. Bank for Foreign Economic Affairs of the USSR, Defendant.

Supreme Court, New York County.

September 10, 1996


Attorney(s) appearing for the Case

Waesche, Sheinbaum & O'Regan, P. C., New York City (Nicholas P. Giuliano of counsel), for plaintiff. Mayer, Brown & Platt, New York City (Nicholas W. Lobenthal of counsel), for defendant.


DAVID B. SAXE, J.

The question posed here is whether this court has jurisdiction over a banking organ of the new Russian Federation to enforce that entity's payment obligation to a United States corporation.

In June 1987, plaintiff, a New York company, became the assignee of all the rights of Primary International Inc. (Primary), also a New York company, to 10 bills of exchange due semiannually from...

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