FAIRFIELD SENTRY LIMITED (IN LIQUIDATION), acting by and through the Foreign Representatives thereof, and KENNETH KRYS, solely in his capacity as Foreign Representatives and Liquidator thereof, Plaintiffs/Appellants, - against - CITIBANK, N.A. LONDON, Defendants/Appellees., 630 F. Supp. 3d 463

Summary

HOLDINGS: [1]-A choice of forum clause specifying New York's jurisdiction for claims brought with respect to an agreement and a fund did not establish personal jurisdiction over nonresidents as to claims involving only the fund, but not the agreement, because the clause used the word "and" conjunctively to require that both conditions be satisfied; [2]-After the bankruptcy court recognized a proceeding in the British Virgin Islands (BVI) as a foreign main proceeding under 11 U.S.C.S. §§ 1509(a), 1517(b)(1), 1520, 1521(a), the safe harbor defense under 11 U.S.C.S. § 546(e) applied pursuant to 11 U.S.C.S. § 561(d) to bar foreign representatives' avoidance claims under BVI law because the presumption against extraterritoriality was not implicated and the claims contained no element of actual intent to hinder, delay, or defraud within the meaning of the 11 U.S.C.S. § 548(a)(1)(A) exception.