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Assembly Bill A7967A

2011-2012 Legislative Session

Relates to contracts governing foreign states

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

co-Sponsors

multi-Sponsors

2011-A7967 - Details

See Senate Version of this Bill:
S3767
Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Add §5-336, Gen Ob L

2011-A7967 - Summary

Relates to contracts governing debt obligations of foreign states.

2011-A7967 - Bill Text download pdf 

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

                                  7967

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 25, 2011
                               ___________

Introduced  by M. of A. SIMOTAS -- read once and referred to the Commit-
  tee on Judiciary

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
  (D)  OBLIGATES  THE FOREIGN STATE TO APPOINT AND MAINTAIN AN AGENT FOR
SERVICE OF PROCESS IN THE JURISDICTION TO WHICH THE  FOREIGN  STATE  HAS
SUBMITTED OR IN WHICH IT IS SUBJECT TO JURISDICTION; OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09939-04-1

co-Sponsors

multi-Sponsors

2011-A7967A (ACTIVE) - Details

See Senate Version of this Bill:
S3767
Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Add §5-336, Gen Ob L

2011-A7967A (ACTIVE) - Summary

Relates to contracts governing debt obligations of foreign states.

2011-A7967A (ACTIVE) - Bill Text download pdf 

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

                                 7967--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 25, 2011
                               ___________

Introduced  by  M.  of  A.  SIMOTAS,  P. RIVERA, WEPRIN, REILLY, JAFFEE,
  MONTESANO, SPANO, LAVINE, BRAUNSTEIN -- Multi-Sponsored by -- M. of A.
  CROUCH, McLAUGHLIN, MENG, NOLAN --  read  once  and  referred  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.
                                                           LBD09939-05-1

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