New York Justice Dismisses Korean Shipping Company's Petition To Transfer Property

New York Justice Dismisses Korean Shipping Company's Petition To Transfer Property

NEW YORK - A New York justice on May 12 granted a motion filed by numerous Chinese banks to dismiss a petition filed by a Korean shipping company that sought to transfer property from the banks in satisfaction of a foreign arbitration award and denied a motion filed by the shipping company for a time extension for service of the petition upon nonparty judgment debtors (Samsun Logix Corp. v. Bank of China, et al., No. 105262/10, N.Y. Sup., N.Y. Co.; 2011 N.Y. Misc. LEXIS 2268; See September 2010, Page 13). Full story on lexis.com

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