Fifth Circuit Court of Appeals Decision Regarding US Bar Order
In a decision dated 9 August 2024, the Fifth Circuit ruled that the US District Court for the Northern District of Texas did not have the requisite personal jurisdiction to bind the Antiguan Joint Liquidators with its Bar Order, thereby rendering the US Bar Order inapplicable to the Joint Liquidators.
Société Générale Private Banking (Suisse) SA (Soc Gen) subsequently filed a petition seeking a re-hearing of this matter from the Fifth Circuit and that petition was denied. As a result, the US Bar Order does not apply to the Joint Liquidators and Soc Gen cannot use this to delay proceedings in Switzerland.
See below link to the decision of the Fifth Circuit.
