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COMMONWEALTH v. CANADIAN BANK

No. 58.

21 N.Y.3d 55 (2013)

990 N.E.2d 114

967 N.Y.S.2d 876

2013 NY Slip Op 3018

COMMONWEALTH OF THE NORTHERN MARIANA ISLANDS, Appellant, v. CANADIAN IMPERIAL BANK OF COMMERCE, Respondent, WILLIAM H. MILLARD, Defendant, THE MILLARD FOUNDATION, Intervenor.

Court of Appeals of New York.

Decided April 30, 2013.

Attorney(s) appearing for the Case

Kobre & Kim LLP, New York City ( Michael S. Kim and Melanie L. Oxhorn of counsel), for appellant.

Skadden, Arps, Slate, Meagher & Flom LLP, New York City ( Scott D. Musoff , Timothy G. Nelson and Gregory A. Litt of counsel), for respondent.

OPINION OF THE COURT

RIVERA, J.

Two questions certified to us by the United States Court of Appeals for the Second Circuit raise issues as to whether a judgment creditor can obtain a CPLR article 52 turnover order against a bank to garnish assets held by the bank's foreign subsidiary. We hold that for a court to issue a postjudgment turnover order pursuant to CPLR 5225 (b) against a banking entity, that entity itself must have actual, not merely constructive...

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