MOTOROLA v. STANDARD CHARTERED BANK

No. 162

24 N.Y.3d 149 (2014)

21 N.E.3d 223

996 N.Y.S.2d 594

2014 NY Slip Op 07199

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.

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.

Sullivan & Cromwell LLP, New York City ( Bruce E. Clark , H. Rodgin Cohen , Sharon L. Nelles , Bradley P. Smith and Patrick B. Berarducci of counsel), for respondent-appellant.

White & Case LLP, New York City ( Dwight A. Healy , Ernest T. Patrikis , Owen C. Pell and Marika M. Lyons of counsel), for Institute of International Bankers and others, amici curiae.

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.

Jones Day, New York City ( Lee M. Pollack , Lee A. Armstrong and Sevan Ogulluk of counsel), for Central Bank of Jordan, 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.


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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