Separate Entity Rule on Bank Branches and Judgment Debtors

, New York Law Journal

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Daniel B. Goldman and Adam W. Braveman of Paul Hastings write that for over 50 years in proceedings to enforce judgments in New York, New York branches of banks have been considered separate entities from all foreign branches. This rule has prevented judgment creditors from forcing banks to restrain and/or turn over assets of a judgment debtor held by foreign branches of banks. That may now change.

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