N.Y. top court is good friend to global banks, foreign account holders
New York’s highest court did a big favor for international banks last week in its decision in Motorola v. Standard Chartered. But they’re not the only beneficiaries of the ruling, at least as the banks tell the story. According to amicus briefs in the case from the Securities Industry and Financial Markets Association (SIFMA) and the city bar’s banking law committee (among others), New York’s position as a center of international finance would have been endangered had the Court of Appeals gone against Standard Chartered. Read more on Reuters.