Law360 recently published an article titled “Another Nod to NY's Separate Entity Rule” by Shearman & Sterling Danforth Newcomb (New York-Litigation), Henry Weisburg (New York-Litigation) and associate Keith R. Palfin (Washington, DC-Litigation).

In their article, the authors examine the recent New York state appellate court case affirming an important decision on the “separate entity” rule that is favorable to all multinational banks that maintain a New York branch. New York’s separate entity rule protects banks from judgment creditors that seek to restrain or attach assets located outside of New York by serving process on a bank’s New York branch.