International Asset Recovery & Enforcement  RSS

  • The Challenges Of Enforcing Foreign Judgments—The Irish Example

    The enforcement of foreign judgments is a challenge, especially if they emanate from the US because there is no automatic recognition. How Ireland treats enforcement efforts of foreign judgments is an excellent example of the challenges faced by plaintiff’s counsel.
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  • U.S. Supreme Court Finds RICO Statute Applies to Activity Offshore

    The U.S. Supreme Court on June 20, 2016, inRJR Nabisco Inc. v. European Community, 579 U.S. ___, addressed the application of the RICO statute 18 U.S.C. Section 1961 et seq., to activities outside the U.S. and the injury that must be suffered by private litigants in order to recover. This case involved a global money-laundering scheme, wherein drug traffickers smuggled narcotics into Europe and sold the drugs for Euros that through a series of transactions involving black-market money brokers, cigarette importers and wholesalers were used to pay for large shipments of RJR cigarettes into Europe.
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  • New York Court Has Sufficient Jurisdiction Over Foreign Bank Where Bank Purposefully Uses A Correspondent Bank Account in New York

    In a recent New York District Court decision inOfficial Comm. Of Unsecured Creditors of Arcapita Bank B.S.C. v. Bahr, Islamic Bank, 2016 U.S. Dist Lexis 42635 (S.D.N.Y. 2016), the court considered whether the use of a correspondent bank account provides a sufficient basis to exercise personal jurisdiction over a foreign bank. There, the Bahraini banks set the terms of investment placements and designated New York correspondent bank accounts to receiver the funds. The banks then actively directed the funds at issue into the New York accounts.
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Welcome to HMB's SALT & Pepper blog. As the title suggests, this blog tracks important and emerging issues, trends and developments that affect our clients not only in State and Local Tax (SALT) but also in other disciplines and industries. This blog is designed to be a helpful resource. We hope our readers will find it practical, insightful and valuable.


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