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CARGILL FIN. SERVS. INTL., INC. v. BANK FIN. & CREDIT LTD.

1301N, 601890/09, 1302N, 1302NA.

66 A.D.3d 589 (2009)

888 N.Y.S.2d 18

2009 NY Slip Op 7688

CARGILL FINANCIAL SERVICES INTERNATIONAL, INC., Appellant, v. BANK FINANCE AND CREDIT LIMITED, Also Known as OJSC BANK FINANCE AND CREDIT, Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided October 27, 2009.

While plaintiff's evidence established a basis for quasi in rem jurisdiction, in that defendant, a Ukrainian bank, utilized its New York correspondent accounts to receive funds and make interest payments pursuant to the terms of the parties' loan agreements and associated letters of credit (see generally Banco Ambrosiano v Artoc Bank & Trust, 62 N.Y.2d 65 [1984]), plaintiff failed in its burden to show the extent, if any, that...

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