Subscribe to RSS feedNew York’s Rule B attachment carnival is not quite over yet
ON OCTOBER 16, the US Federal Court of Appeals for the Second Circuit ruled, in Shipping Corporation of India v Jaldhi, that electronic fund transfers (EFTs) being processed by an intermediary bank in New York were no longer subject to Rule B attachments.
Following that ruling, some Southern District of New York judges have reacted by automatically (that is, without application from an interested party) vacating pre-existing Rule B attachments.
The developing situation, and possible options open to those affected by these events,...
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