IKB INTL. S.A. v. WELLS FARGO

No. 51.

40 N.Y.3d 277 (2023)

220 N.E.3d 646

197 N.Y.S.3d 719

2023 NY Slip Op 03302

IKB INTERNATIONAL, S.A., et al., Respondents, v. WELLS FARGO BANK, N.A., as Trustee (and Any Predecessors and Successors Thereto), et al., Appellants, et al., Defendants. IKB INTERNATIONAL, S.A., et al., Respondents, v. U.S. BANK, N.A., as Trustee (and Any Predecessors and Successors Thereto), et al., Appellants, et al., Defendants. IKB INTERNATIONAL, S.A., et al., Respondents, v. DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee (and Any Predecessors and Successors Thereto), et al., Appellants, et al., Defendants. IKB INTERNATIONAL, S.A., et al., Respondents, v. THE BANK OF NEW YORK, as Trustee (and Any Predecessors and Successors Thereto), et al., Appellants, et al., Defendants.

Court of Appeals of New York.

Decided June 15, 2023.


Attorney(s) appearing for the Case

Mayer Brown LLP, New York City ( Matthew D. Ingber , Christopher J. Houpt , Rory K Schneider and Christopher J. Mikesh of counsel), for The Bank of New York and others, Jones Day, New York City ( Howard F. Sidman , Ryan J. Andreoli and Amanda L. Dollinger of counsel), for Wells Fargo Bank, N.A. and another, Jones Day, New York City ( David F Adler and Michael T Marcucci of counsel) and Cleveland, Ohio ( Louis A. Chaiten , admitted pro hac vice, and Amanda R. Parker , admitted pro hac vice, of counsel), for U.S. Bank, N.A. and another, and Morgan, Lewis & Bockius, LLP, New York City ( Michael S. Kraut , Kevin J. Biron and Bryan P. Goff of counsel), for Deutsche Bank National Trust Company and another, appellants.

McFerrin-Clancy LLC, New York City ( John J.D. McFerrin-Clancy of counsel), and Schlam Stone & Dolan LLP, New York City ( Seth D. Allen , Richard H. Dolan , Erik S. Groothuis and David J. Goldsmith of counsel), for respondents.

Faegre Drinker Biddle & Reath LLP, New York City ( Clay J. Pierce of counsel), for American Bankers Association, amicus curiae.


OPINION OF THE COURT

APPEAL, by permission of the Appellate Division of the Supreme Court in the First Judicial Department, from an order of that Court, entered August 30, 2022. The Appellate Division order, insofar as appealed from, modified, on the law, so much of an order of the Supreme Court, New York County (Marcy S. Friedman...

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