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If you are looking to close your New York business, these are some of the many essential steps you should take. In most cases you shall require a New York Bankruptcy lawyers to assist in the windup process:
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The New York State Court, in a case of first impression held that in personam jurisdiction is not necessary to recognize and enforce judgments in New York from a foreign court. The case that decided the matter is Abu Dhabi Commercial Bank PJSC v. Saad Trading, Contracting & Fin. Services Co., 36 Misc. 3d 389, 948 N.Y.S.2d 533 (Sup. Ct. 2012). The case is a case of first impression in New York and is a pivotal case that will, likely, lead to more cases like this case being heard in New York courts.
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We have clients that are supplying products to UK companies and UK companies that are being supplied products by U.S. companies. With the surprising outcome of the Brexit vote, the purpose of these agreements are now frustrated because, often, these products are used in finished products assembled in EU nations. This situation often arises in complex products. For example, a U.S. business has a piece of technology that is integrated into a British component. The British component is then further integrated into a finished product manufactured in Germany. The situation is not as rare as you think.
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