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Daily Archives: Friday, May 17, 2019

Posted: May 17, 2019

Where Company Lacked a Principal Place of Business in Any One State, its Residence For Purposes of the Borrowing Statute Was Its State of Incorporation

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On May 9, 2019, the First Department issued a decision in Interventure 77 Hudson LLC v. Falcon Real Estate Inv. Co., LP, 2019 NY Slip Op. 03670, holding that where a company lacked a principal place of business in any one state, its residence for purposes of the borrowing statute was its state of incorporation, explaining:... Read more »

Posted: May 17, 2019

E.U. Hands Down $1.2 Billion Fine For Rigging ForEx Markets

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Today, CNBC, Reuters, and the E.U. itself itself are reporting that the European Commission has fined Barclays, Citigroup, J.P. Morgan, MUFG, and Royal Bank of Scotland a total of 1.07 billion Euro ($1.2 billion) for rigging the spot foreign exchange market for 11 currencies. The bid-rigging was carried out by traders from the various banks... Read more »