MOTOROLA CREDIT CORPORATION, Appellant-Respondent, et al., Plaintiff-Counter-Defendant, et al., Counter-Defendants,
v.
STANDARD CHARTERED BANK, Respondent-Appellant, et al., Defendants-Counter-Claimants, et al., Defendants.
Court of Appeals of New York.https://leagle.com/images/logo.png
Argued September 16, 2014.
Decided October 23, 2014.
Attorney(s) appearing for the Case
Fried, Frank, Harris, Shriver & Jacobson LLP ( Howard H. Stahl , of the District of Columbia bar, admitted pro hac vice, Jerald S. Howe, Jr. , of the District of Columbia bar, admitted pro hac vice, George R. Calhoun, V , of the District of Columbia bar, admitted pro hac vice, and Douglas W. Baruch of counsel), for appellant-respondent.
Cravath, Swaine & Moore LLP, New York City ( Timothy G. Cameron of counsel), for Government of the United Kingdom of Great Britain and Northern Ireland, amicus curiae.
Davis Polk & Wardwell LLP, New York City ( James L. Kerr , Karen E. Wagner and Margaret E. Tahyar of counsel), for Committee on Banking Law of the Association of the Bar of the City of New York, amicus curiae.
Skadden, Arps, Slate, Meagher & Flom LLP, New York City ( Scott D. Musoff Timothy G. Nelson and Amanda Raymond Kalantirsky of counsel), and Ira D. Hammerman , Washington, D.C., and Kevin Carroll , Washington, D.C., for Securities Industry and Financial Markets Association, amicus curiae.
Court of Appeals of New York.
OPINION OF THE COURT
GRAFFEO, J.
In this case, the United States Court of Appeals for the Second Circuit asks us whether the "separate entity" rule prevents a judgment creditor from ordering a garnishee bank operating branches in New York to restrain a judgment debtor's assets held in foreign branches of the bank. We conclude that it does.
I
Between April 1998 and September 2000, several...
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