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[1/2] A BNY Mellon sign is seen on their headquarters in New York's financial district, January 19, 2011. A lawyer for BNY Mellon also declined to comment. They have long said their contracts shielded them from liability for RMBS losses, and that particularly sophisticated investors should have known the risks. In its December 2015 complaint, Commerzbank accused BNY Mellon of sitting "idly" as losses piled up, rather than force lenders to buy back and servicers to address troubled loans. The case is Commerzbank AG v. The Bank of New York Mellon et al, U.S. District Court, Southern District of New York, No.

Persons: Brendan McDermid, Germany's, George Daniels, Commerzbank's, Dave Wollmuth, BNY Mellon, Commerzbank, Daniels, The Bank of New York Mellon, Jonathan Stempel, Grant McCool Organizations: REUTERS, Bank of New York Mellon, District, BNY Mellon, Countrywide, NovaStar, BNY, New York, CDO, Commerzbank, The Bank of New York, Court, Southern District of, Thomson Locations: New, U.S, Manhattan, Barrington, Southern District, Southern District of New York, New York

In a 31-page decision on Wednesday, U.S. District Judge George Daniels in Manhattan also dismissed all claims against the billionaire Ma, including for insider trading. Beijing announced an antitrust probe in Dec. 2020, and fined Alibaba $2.75 billion four months later for requiring "merchant exclusivity" to do business. Daniels said Alibaba shareholders lacked standing to sue over Ant, because the IPO did not happen and thus they never bought or sold Ant shares. He said they could sue Alibaba, Chief Executive Daniel Zhang and former Chief Financial Officer Maggie Wu over the antitrust compliance statements. The case is In re Alibaba Group Holding Ltd Securities Litigation, U.S. District Court, Southern District of New York, No.

The families, comprising more than 10,000 people, had asked U.S. District Judge George Daniels in Manhattan to put his Feb. 21 decision on hold while they appeal. "An important public interest lies in the enforcement of terrorism judgments," Daniels wrote. In ruling against the families, Daniels said awarding them the frozen assets would effectively recognize the Taliban as Afghanistan's legitimate government, which the Biden administration has not done. The president ordered $3.5 billion set aside to benefit the Afghan people, leaving the rest for the families to pursue. The case is In re Terrorist Attacks on Sept. 11, 2001, U.S. District Court, Southern District of New York, No.

☆ 9/11 victims are blocked from seizing $3.5 billion in frozen assets from Afghanistan because Biden would have to recognize the Taliban
▼ + stars: | 2023-02-22 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

The families of 9/11 victims are blocked from seizing $3.5B in frozen Afghan central bank funds. A federal judge ruled that seizing the funds would mean recognizing the Taliban as legitimate rulers. A group of families of 9/11 victims had previously sued the Taliban for their losses, winning a default judgment when the militant group did not turn up to court. Last February, Biden cleared a legal path for relatives to pursue the $3.5 billion held in Afghanistan's central bank to pay off the judgment debts. "This decision deprives over 10,000 members of the 9/11 community of their right to collect compensation from the Taliban," he said.

NEW YORK, Feb 21 (Reuters) - A U.S. judge said on Tuesday victims of the Sept. 11, 2001, attacks are not entitled to seize $3.5 billion of assets belonging to Afghanistan's central bank to satisfy court judgments they obtained against the Taliban. U.S. District Judge George Daniels in Manhattan said he was "constitutionally restrained" from finding that the Taliban was Afghanistan's legitimate government, a precursor for attaching assets belonging to Da Afghanistan Bank, or DAB. Daniels said letting victims seize those assets would amount to a ruling that the Taliban are Afghanistan's legitimate government. He said U.S. courts lack power to reach that conclusion, noting that Biden administration does not recognize the Taliban as Afghanistan's government. The case is In re Terrorist Attacks on Sept. 11, 2001, U.S. District Court, Southern District of New York, No.

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