- Starr International Co., Inc. v. Federal Reserve Bank of New York, Case No. 12-5022, (2nd Cir. January 29, 2014)
- State law fiduciary duty standard does not apply to Federal Reserve Bank of New York (“FRBNY”) performing “general fiscal duties of the United States,” as “instrumentality of the federal government” in rescue activities, protecting federal interests in stabilizing the national economy during 2008 fiscal crises.
- Procedural context:
- Appeal from order dismissing action under Fed.R.Civ.P. 12(b)(6), failure to state a claim for which relief can be granted
- Action against by American International Group against FRBNY for state law breaches of fiduciary duty in rescue efforts during 2008 financial crisis.
- Walker, Livingston, and Chin
In re Zachary Allen ; Tiara Donegan
Summarizing by Lars Fuller
3267 in the system
3 Being Processed