A recent issue of Massachusetts Lawyers Weekly features discussion with Steve Riden in an article titled “Investor’s suit against foreign bank revived.”
The article covers a decision by the Massachusetts Appeals Court concerning whether a foreign bank had sufficient ties with Massachusetts to be subject to suit within the Commonwealth. The decision was entered in the case titled Von Schönau-Riedweg, et al. v. Rothschild Bank AG.
The decision addresses the exercise of long-arm jurisdiction by a Massachusetts court over a Swiss bank based on the conduct of an advisor that acted as the bank’s agent.
In the article, Steve Riden is quoted as follows:
Attorneys said the decision, while not breaking new ground, is helpful.
“It provides a good road map for any practitioner interested in the status of agency law in Massachusetts,” said Stephen D. Riden, co-chairman of the Boston Bar Association’s Business and Commercial Litigation Section.
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Riden also noted the Appeals Court’s “back to basics” approach in looking at “elemental hallmarks” of the existence of an agency-principal relationship, such as the advisor’s use of the bank’s business cards, stationery and email system.
“If you are a putting together an affidavit, you should be looking for things like that,” Riden said.
The article is by Massachusetts Lawyers Weekly’s reporter, Kris Olson / @KO_Reporter.
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