senate Bill S3767B

2011-2012 Legislative Session

Relates to contracts governing debt obligations of foreign states

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (16)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to judiciary
returned to senate
died in assembly
Jun 21, 2011 referred to ways and means
delivered to assembly
passed senate
ordered to third reading cal.1462
committee discharged and committed to rules
Jun 14, 2011 print number 3767c
amend and recommit to finance
Jun 01, 2011 reported and committed to finance
May 18, 2011 print number 3767b
amend and recommit to judiciary
May 13, 2011 print number 3767a
amend (t) and recommit to judiciary
Mar 03, 2011 referred to judiciary

Votes

view votes

Jun 21, 2011 - Rules committee Vote

S3767C
13
8
committee
13
Aye
8
Nay
3
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Jun 1, 2011 - Judiciary committee Vote

S3767B
15
2
committee
15
Aye
2
Nay
5
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Judiciary committee vote details

Bill Amendments

Original
A
B
C (Active)
Original
A
B
C (Active)

S3767 - Details

Current Committee:
Law Section:
General Obligations Law
Laws Affected:
Add §5-336, Gen Ob L
Versions Introduced in 2011-2012 Legislative Session:
A7967A

S3767 - Summary

Relates to contracts governing debt obligations of foreign states.

S3767 - Sponsor Memo

S3767 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3767

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 3, 2011
                               ___________

Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary

AN ACT to amend the general obligations  law,  in  relation  to  certain
  provisions  of  contracts  governing  debt obligations of debt evading
  foreign states, agencies or instrumentalities of debt evading  foreign
  states and state-owned corporations of debt evading foreign states

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  The general obligations law is amended  by  adding  a  new
section 5-336 to read as follows:
  S 5-336. SURVIVAL OF ENTRY OF FINAL JUDGMENT AND NON-MERGER INTO FINAL
JUDGMENT  OF  PROVISIONS OF CONTRACTS GOVERNING DEBT OBLIGATIONS OF DEBT
EVADING FOREIGN STATES, AGENCIES OR INSTRUMENTALITIES  OF  DEBT  EVADING
FOREIGN  STATES  AND  STATE  OWNED  CORPORATIONS OF DEBT EVADING FOREIGN
STATES AS A MATTER OF PUBLIC POLICY. 1. AS A MATTER  OF  PUBLIC  POLICY,
THE PROVISIONS OF A CONTRACT GOVERNING A DEBT OBLIGATION OF A DEBT EVAD-
ING  FOREIGN  STATE, AGENCY OR INSTRUMENTALITY OF A DEBT EVADING FOREIGN
STATE OR A STATE-OWNED CORPORATION  OF  A  DEBT  EVADING  FOREIGN  STATE
(COLLECTIVELY  "DEBT  EVADING  FOREIGN  STATE"),  THAT  ARE NOT DIRECTLY
ADDRESSED IN A FINAL JUDGMENT IN FAVOR OF THE HOLDER OF THE  DEBT  OBLI-
GATION  AGAINST THE FOREIGN STATE, SHALL SURVIVE THE ENTRY OF SUCH FINAL
JUDGMENT AND SHALL NOT BE MERGED INTO ANY SUCH  FINAL  JUDGMENT.    SUCH
PROVISIONS INCLUDE BUT ARE NOT LIMITED TO A PROVISION THAT:
  (A)  WAIVES THE IMMUNITY OF SUCH FOREIGN STATE WITH RESPECT TO ACTIONS
OR PROCEEDINGS, INCLUDING ACTIONS OR PROCEEDINGS TO  ENFORCE  ANY  FINAL
JUDGMENT ENTERED AGAINST SUCH FOREIGN STATE, BROUGHT BY ANY HOLDER BASED
UPON OR WITH RESPECT TO SUCH OBLIGATION; OR
  (B)  DESIGNATES  THE COURTS OR JURISDICTION TO WHICH THE FOREIGN STATE
WILL SUBMIT FOR PURPOSES OF SUIT,  OR  FOR  ACTIONS  OR  PROCEEDINGS  TO
ENFORCE ANY FINAL JUDGMENT; OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09939-01-1

S3767A - Details

Current Committee:
Law Section:
General Obligations Law
Laws Affected:
Add §5-336, Gen Ob L
Versions Introduced in 2011-2012 Legislative Session:
A7967A

S3767A - Summary

Relates to contracts governing debt obligations of foreign states.

S3767A - Sponsor Memo

S3767A - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3767--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 3, 2011
                               ___________

Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Judiciary  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend  the  general obligations law, in relation to certain
  provisions of contracts governing debt obligations of foreign states

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.    The  general obligations law is amended by adding a new
section 5-336 to read as follows:
  S 5-336. SURVIVAL OF ENTRY OF FINAL JUDGMENT AND NON-MERGER INTO FINAL
JUDGMENT OF PROVISIONS OF CONTRACTS  GOVERNING  DEBT  OBLIGATIONS  OF  A
FOREIGN STATE.
  1.  AS A MATTER OF PUBLIC POLICY, THE PROVISIONS OF A CONTRACT GOVERN-
ING A DEBT OBLIGATION OF A FOREIGN STATE, AS DEFINED IN 28 UNITED STATES
CODE SECTION 1603, THAT ARE NOT DIRECTLY ADDRESSED IN A  FINAL  JUDGMENT
IN FAVOR OF THE HOLDER OF THE DEBT OBLIGATION AGAINST THE FOREIGN STATE,
SHALL  SURVIVE  THE ENTRY OF SUCH FINAL JUDGMENT AND SHALL NOT BE MERGED
INTO SUCH FINAL JUDGMENT. SUCH PROVISIONS INCLUDE BUT ARE NOT LIMITED TO
A PROVISION THAT:
  (A) WAIVES THE IMMUNITY OF SUCH FOREIGN STATE IN RESPECT OF ACTIONS OR
PROCEEDINGS, INCLUDING ACTIONS OR PROCEEDINGS TO ENFORCE ANY FINAL JUDG-
MENT ENTERED AGAINST SUCH FOREIGN STATE, BROUGHT  BY  ANY  HOLDER  BASED
UPON OR WITH RESPECT TO SUCH OBLIGATION; OR
  (B)  DESIGNATES  THE COURTS OR JURISDICTION TO WHICH THE FOREIGN STATE
HAS SUBMITTED FOR PURPOSES OF SUIT, OR FOR  ACTIONS  OR  PROCEEDINGS  TO
ENFORCE ANY FINAL JUDGMENT; OR
  (C)  DESIGNATES  THE  CHOICE OF LAW SET FORTH IN ANY SUCH CONTRACT FOR
PURPOSES OF DETERMINING THE RIGHTS AND DUTIES OF THE PARTIES TO ANY SUCH
CONTRACT; OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09939-02-1

S3767B - Details

Current Committee:
Law Section:
General Obligations Law
Laws Affected:
Add §5-336, Gen Ob L
Versions Introduced in 2011-2012 Legislative Session:
A7967A

S3767B - Summary

Relates to contracts governing debt obligations of foreign states.

S3767B - Sponsor Memo

S3767B - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3767--B

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 3, 2011
                               ___________

Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Judiciary  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  --  committee  discharged,  bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the general obligations  law,  in  relation  to  certain
  provisions of contracts governing debt obligations of foreign states

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  The general obligations law is amended  by  adding  a  new
section 5-336 to read as follows:
  S 5-336. SURVIVAL OF ENTRY OF FINAL JUDGMENT AND NON-MERGER INTO FINAL
JUDGMENT  OF  PROVISIONS  OF  CONTRACTS  GOVERNING DEBT OBLIGATIONS OF A
FOREIGN STATE.
  1. AS A MATTER OF PUBLIC POLICY, THE PROVISIONS OF A CONTRACT  GOVERN-
ING A DEBT OBLIGATION OF A FOREIGN STATE, AS DEFINED IN 28 UNITED STATES
CODE  SECTION  1603, THAT ARE NOT DIRECTLY ADDRESSED IN A FINAL JUDGMENT
IN FAVOR OF THE HOLDER OF THE DEBT OBLIGATION AGAINST THE FOREIGN STATE,
SHALL SURVIVE THE ENTRY OF SUCH FINAL JUDGMENT AND SHALL NOT  BE  MERGED
INTO SUCH FINAL JUDGMENT. SUCH PROVISIONS INCLUDE BUT ARE NOT LIMITED TO
A PROVISION THAT:
  (A) WAIVES THE IMMUNITY OF SUCH FOREIGN STATE IN RESPECT OF ACTIONS OR
PROCEEDINGS, INCLUDING ACTIONS OR PROCEEDINGS TO ENFORCE ANY FINAL JUDG-
MENT  ENTERED  AGAINST  SUCH  FOREIGN STATE, BROUGHT BY ANY HOLDER BASED
UPON OR WITH RESPECT TO SUCH OBLIGATION; OR
  (B) DESIGNATES THE COURTS OR JURISDICTION TO WHICH THE  FOREIGN  STATE
HAS  SUBMITTED  FOR  PURPOSES  OF SUIT, OR FOR ACTIONS OR PROCEEDINGS TO
ENFORCE ANY FINAL JUDGMENT; OR
  (C) DESIGNATES THE CHOICE OF LAW SET FORTH IN ANY  SUCH  CONTRACT  FOR
PURPOSES OF DETERMINING THE RIGHTS AND DUTIES OF THE PARTIES TO ANY SUCH
CONTRACT; OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09939-03-1

S3767C (ACTIVE) - Details

Current Committee:
Law Section:
General Obligations Law
Laws Affected:
Add §5-336, Gen Ob L
Versions Introduced in 2011-2012 Legislative Session:
A7967A

S3767C (ACTIVE) - Summary

Relates to contracts governing debt obligations of foreign states.

S3767C (ACTIVE) - Sponsor Memo

S3767C (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3767--C

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 3, 2011
                               ___________

Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Judiciary  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to  said  committee  --  committee  discharged,  bill amended, ordered
  reprinted as amended and recommitted to  said  committee  --  reported
  favorably  from  said  committee  and  committed  to  the Committee on
  Finance -- committee discharged, bill amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN  ACT  to  amend  the  general obligations law, in relation to certain
  provisions of contracts governing debt obligations of foreign states

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.    The  general obligations law is amended by adding a new
section 5-336 to read as follows:
  S 5-336. SURVIVAL OF ENTRY OF FINAL JUDGMENT AND NON-MERGER INTO FINAL
JUDGMENT OF PROVISIONS OF CONTRACTS  GOVERNING  DEBT  OBLIGATIONS  OF  A
FOREIGN STATE.
  1.  AS A MATTER OF PUBLIC POLICY, THE PROVISIONS OF A CONTRACT GOVERN-
ING A DEBT OBLIGATION OF A FOREIGN STATE, AS DEFINED IN 28 UNITED STATES
CODE SECTION 1603, THAT ARE NOT DIRECTLY ADDRESSED IN A  FINAL  JUDGMENT
IN FAVOR OF THE HOLDER OF THE DEBT OBLIGATION AGAINST THE FOREIGN STATE,
SHALL  SURVIVE  THE ENTRY OF SUCH FINAL JUDGMENT AND SHALL NOT BE MERGED
INTO SUCH FINAL JUDGMENT. SUCH PROVISIONS INCLUDE BUT ARE NOT LIMITED TO
A PROVISION THAT:
  (A) WAIVES THE IMMUNITY OF SUCH FOREIGN STATE IN RESPECT OF ACTIONS OR
PROCEEDINGS, INCLUDING ACTIONS OR PROCEEDINGS TO ENFORCE ANY FINAL JUDG-
MENT ENTERED AGAINST SUCH FOREIGN STATE, BROUGHT  BY  ANY  HOLDER  BASED
UPON OR WITH RESPECT TO SUCH OBLIGATION; OR
  (B)  DESIGNATES  THE COURTS OR JURISDICTION TO WHICH THE FOREIGN STATE
HAS SUBMITTED FOR PURPOSES OF SUIT, OR FOR  ACTIONS  OR  PROCEEDINGS  TO
ENFORCE ANY FINAL JUDGMENT; OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09939-06-1

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