The Institute of International Bankers (IIB), an association of internationally headquartered financial institutions operating in the United States, filed an amicus brief in the Linde case, arguing that the Eastern District Court’s ruling to impose sanctions does not align with precedent set by the United States Supreme Court. According to the IIB, the Supreme Court has historically emphasized international comity – the respect by one nation of other sovereign powers and legal institutions where they may be in conflict with United States court proceedings.
In its amicus, the IIB argues, “An approach to resolve the potential conflict between such laws and U.S. discovery obligations should be careful not to create unnecessary ‘either/or’ scenarios that would require banks and other financial institutions to make the difficult but unavoidable choice of selecting one legal obligation to obey — foreign or U.S. — at the cost of noncompliance with the other.”
Click here to read the brief.