Wells Fargo Asia Ltd. v. Citibank, N.A. Trinh v. Citibank, N.A. Edelmann v. Chase Manhattan Bank, N.A

In: American journal of international law: AJIL, Band 83, Heft 3, S. 573-580

Abstract

In these three breach-of-contract actions, United States federal courts considered the liability of home offices of U.S. banks for obligations of their foreign branches in the event of foreign governmental expropriation or exchange control measures. In each decision the court of appeals did not apply the act of state doctrine and gave no effect to the foreign governmental action, largely on the ground either that the situs of the debt was not within the exclusive jurisdiction of the foreign state carrying out the governmental measure at issue or that the law governing the obligation was not that of the foreign state.