Case: Allied Bank – 1983 to 1985

There are a number of decisions in the Allied Bank, and it is one of the most important cases in the history (especially the modern history) of sovereign insolvency.

The case begins:

Decision of the U.S. District Court
Dated: July 27, 1983
Download decision: Allied Bank et al v. Bankco Credito Agricola de Cartago et al (PDF).

U.S.D.C. Thomas P. Griesa dismisses the application of Allied Bank for summary judgment.

The Judge dismisses the application by the Costa Rican banks to dismiss the case on the following grounds:

1. Lack of personal jurisdiction (in personam jurisdiction)

2. Lack of subject-matter jurisdiction

3. Invalidity of process

4. Sovereign immunity

First decision of the U.S. Court of Appeal, 2nd circuit
Dated: April 23, 1983
Download decision: Allied Bank (1984, US CA 2nd Cir.) (PDF) (Court copy (PDF))

Affirms the July 27, 1983 decision of the U.S. District Court.

Second decision of the U.S. Court of Appeal, 2nd circuit
Dated: March 18, 1985
Download decision: Allied Bank (1985, US CA 2nd Cir.) (PDF).

Rehearing, vacates the April 23, 1984 decision and remands the case back to the District Court.

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