Comments on: Case of the Day: SEC v. Stanford International Bank https://lettersblogatory.com/2011/04/17/case-of-the-day-sec-v-stanford-international-bank/ The Blog of International Judicial Assistance Fri, 13 Dec 2024 20:24:33 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Ted Folkman https://lettersblogatory.com/2011/04/17/case-of-the-day-sec-v-stanford-international-bank/#comment-132 Mon, 18 Apr 2011 02:55:55 +0000 http://lettersblogatory.com/?p=971#comment-132 In reply to Alex Dalamdy.

Thank you for that, Alex. The impact of the Swiss decision you reference seems to turn on the Swiss banking secrecy law–is the Swiss government less likely to grant SG an exemption because the US receiver does not, from the Swiss perspective, stand in the bank’s shoes? I’m not sure I can hazard an educated guess. It may be that the receiver will be before the US court in the near future to take the judge up on his offer to reconsider his decision if the Swiss authorities don’t give the receiver access to the bank records.

]]> By: Alex Dalamdy https://lettersblogatory.com/2011/04/17/case-of-the-day-sec-v-stanford-international-bank/#comment-131 Mon, 18 Apr 2011 01:52:37 +0000 http://lettersblogatory.com/?p=971#comment-131 Interesting analysis. However, in 2010 Swiss courts determined that Antigua and NOT the US was the Center of Main Interest of Stanford International Bank, the entity at the center of this controversy.

Custody of the swiss accounts of SIB has been awarded to the Antiguan Liquidators, who have not been able to take possession of these funds due to a freeze requested by the US DOJ.

Any idea how all that plays into this request going forward?

Thanks.

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