The PDVSA Bonds, Autocracy, and the Venezuelan Constitution
The Second Circuit’s recent decision in Petróleos de Venezuela S.A. v. MUFG Union Bank, N.A. certified a number of choice-of-law questions to the New York Court of Appeals. The decision to certify, which had the effect of postponing a definitive resolution of the dispute, was previously discussed at TLB here and here. In this post, I focus…
Continue ReadingA Deeply Flawed Personal Jurisdiction Decision in the SDNY
When dealing with forum selection clauses, one of the most important—if unappreciated—distinctions is between inbound and outbound clauses. An inbound clause selects the court where the suit was filed. An outbound clause selects a court that is not the forum. Another important distinction is the one between exclusive clauses, which stipulate that suit must be…
Continue ReadingWho Owns the Ferrari F50?
The Ferrari F50 is, by all accounts, a pretty amazing car. One website describes it as the “ultimate showcase of the infamous Italian marque” and “one of the most sought-after driving machines in the world.” Only 349 were ever made. Just last year, a Ferrari F50 sold at auction for roughly $3.8 million. All of…
Continue ReadingWhere is the U.S. International Commercial Court?
Many countries have been setting up domestic courts devoted to international commercial disputes. Why hasn’t the United States? Perhaps because New York courts are already doing that work.
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