Deutsche Bank is not liable to the receivers of Belgium’s former national airline Sabena for failing to turn over an intended transfer that was frozen by the U.S. government for more than 14 years, a New York state appeals court ruled. In a decision on Thursday, a four-judge panel of the New York Supreme Court’s appellate division ordered dismissal of Sabena’s lawsuit against Deutsche Bank, saying the bank acted properly in returning the funds to a Sudanese airline’s bank when they were unfrozen in 2012. To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/29Vj6Vc
New York's Court of Appeals has ruled that Deutsche Bank is not liable for failing to turn over an intended transfer to the receivers of Sabena, Belgium's former national airline. The court said in a ruling on Friday that it was "impossible to conclude" whether Deutsche Bank's failure to provide information about its plans had been intentional or not.