Why the Indictment Against Halkbank Must Be Dismissed
In 2019, the United States indicted Turkiye Halk Bankasi (Halkbank), a Turkish state-owned bank, alleging a multiyear scheme to evade U.S. sanctions against Iran by using fraudulent transactions to transfer the proceeds of oil and gas sales to Iran. Last month, the Supreme Court rejected Halkbank’s claim of immunity under the Foreign Sovereign Immunities Act…
Continue ReadingDear Justice Gorsuch: There’s No Reason to Worry About the Remand in Halkbank
In Turkiye Halk Bankasi A.S. v. United States (Halkbank), the Supreme Court held that the Foreign Sovereign Immunities Act (FSIA) does not apply to criminal proceedings. The Court remanded the case to the Second Circuit to reconsider Halkbank’s claim of common law immunity. Justice Gorsuch, joined by Justice Alito, wrote a partial dissent. He would…
Continue ReadingThe Need for Greater Immunity from Execution for Central Banks: The Case of Da Afghanistan Bank
Central banks play a crucial role in the global economy. They are responsible for managing monetary policy, regulating financial institutions, maintaining financial stability, and ensuring that a country’s monetary policy aligns with its economic goals. Because of their essential role in the economy, and the sovereign functions that they perform, central banks should have a…
Continue ReadingOpen Questions after Halkbank
The Supreme Court held this week in Türkiye Halk Bankasi, A.S. v. United States that the Foreign Sovereign Immunities Act (FSIA) does not apply to criminal prosecutions. That holding was a blow to Halkbank—a foreign state-owned enterprise under indictment—which had argued that the FSIA provided it with immunity. But the case is not over. The…
Continue ReadingSupreme Court decides Halkbank
The Supreme Court issued its opinion in Halkbank this morning. The Court held that the Foreign Sovereign Immunities Act does not apply to criminal prosecutions and remanded the case to consider common law immunity. More coverage soon on TLB.
Continue ReadingSanctions Against Russia and Section 1782 Discovery
Since the “military operation” in Ukraine began in 2022, Russia has become the most sanctioned country in the world. U.S. blocking and sectoral sanctions now cover numerous Russian entities, especially banks, which were the most active litigants in transnational disputes. The U.S.-Russia relationship is probably at its worst in 30 years, and Russia has officially…
Continue ReadingNew Scholarship on Sanctions and Central Bank Immunity
Ingrid has a new paper out on recent developments in central bank immunity, focusing on sanctions by the United States and other countries involving Russian, Afghan, and Venezuelan central bank assets and their relationship to immunity. Some of the issues addressed in the paper involve transnational litigation in U.S. courts, including the entitlement of sovereign…
Continue ReadingDistrict Court Refuses to Let 9/11 Plaintiffs Have Afghan Central Bank Assets
The District Court for the Southern District of New York (Judge George Daniels) has denied the turnover motions filed by judgment creditors against assets of Da Afghanistan Bank (“DAB”) that are held at the Federal Reserve Bank of New York (“FRBNY”). Judge Daniels’ order and decision, issued on February 21, 2023, adopted the report and…
Continue ReadingMaterial Support of Terrorism Looms over Supreme Court’s Social Media Case
On February 22, 2023, the Supreme Court heard oral argument in Twitter v. Taamneh. The case concerns an act of violence committed by ISIS in a Turkish nightclub in 2017. In bringing suit in the lower courts, plaintiffs alleged that Twitter, Facebook, and Google aided and abetted ISIS’s attack, in violation of 18 U.S.C. §…
Continue ReadingSupreme Court Likely to Shield Internet Platforms from Liability for Terrorist Acts
On February 21 and 22, the Supreme Court heard oral arguments in two companion cases regarding the liability of internet platforms for terrorists’ use of their services. Gonzalez v. Google concerns the scope of immunity for internet companies under 47 U.S.C § 230, specifically whether that statutory grant of immunity covers a platform’s automated suggestions…
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