- Category
- Announcements
- Date
- Nov. 23, 2016
- Title
-
Kramer Levin Wins Victory in New York Court of Appeals Upholding Jurisdiction Over Clients’ Money Laundering Claims
By opinion issued on Nov. 22, 2016, the New York Court of Appeals ruled in favor of Kramer Levin clients Rasheed Al Rushaid, Al Rushaid Petroleum Investment Corporation and Al Rushaid Parker Drilling Ltd. and reversed the dismissal of their complaint against Pictet & Cie, and certain of its partners and employees. The Court found that Pictet's participation in a scheme to launder bribe money paid to three of plaintiffs' disloyal employees, including most particularly by facilitating the wire transfer of bribe payments into and out of Pictet's correspondent bank accounts in New York, subjected the defendants to personal jurisdiction in New York. The Kramer Levin team consisted of Litigation partner and firm co-chair Gary P. Naftalis, who argued the appeal, Litigation partner Alan R. Friedman, counsel Michael S. Oberman and associate Andrew J. Estes.
Related People
-
-
Gary P. Naftalis
-
- Partner
- Firm Co-Chairman
- New York
- vcard
-
-
-
Alan R. Friedman
-
- Counsel
- New York
- vcard
-
